Guernsey's fund industry showed sustained growth during a difficult period for global equity markets, according to independent fund research company, Fitzrovia International.
Commenting on the release of its eighth annual Guernsey Fund Encyclopedia, which follows hot on the heels of the Jersey volume, Fitzrovia attributed the 11% growth of funds serviced in Guernsey to US$51 billion as at 30 June, as in great part due to growth in funds domiciled on the Island.
According to the fund research company, the addition of 30 new funds of funds over the past year was the largest increase in any asset class.
Reporting on the release of the Fund Encyclopedia last week, the Guernsey Press and Star revealed that Guernsey International Fund Managers is now the Island's largest fund administrator, ahead of Credit Suisse and Helvetia Fund Administration, and Management International.
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