The fund industry's statistical returns for the quarter ended 31 March 1999, summarised and analysed in this report, reveal good progress in all sectors of the industry.
In the open-ended sector, despite a modest fall in the net number of authorised funds, assets under management increased by 3.6% to £10.8 billion and net new investment reached £250 million (previous quarter £99 million).
The closed-ended sector was particularly buoyant, with the number of funds increasing by 9 to a record 211 and assets under management up 6.9% to £5.6 billion.
At the end of the quarter, the total number of Guernsey authorised/approved open and closed-ended funds had reached a new high of 399, and their value had risen since year-end by £739 million to £16.4 billion, an increase of 4.7%.
The out-turn for non-Guernsey funds serviced from Guernsey was similarly encouraging, with the number of funds and their value reaching a record level of 123 and £5.2 billion respectively.
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