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New Fund Inflows Offset Market Declines In Guernsey

by Amanda Banks, Tax-News.com, London

20 July 2001

The Guernsey Financial Services Commission has reported that an increase of some £400 million in closed-end funds under management has offset a very similar fall in open-ended funds under management over the quarter to 31 March.

At 31 March, total funds under management amounted to some £26.5 billion, a marginal increase on the position as at end December 2000.

During the quarter, the number of classes of umbrella funds and Protected Cell Companies increased by 18, to 486. The number of closed-end funds authorised by 31 March 2000 amounted to 292, an increase of 20 on the position at 31 December 2000.

Furthermore, the value of open-ended non-Guernsey schemes under administration in the Bailiwick increased by some £270 million to £7.9 billion.

More detailed information can be found on the Comission's web site at: http://www.gfsc.guernseyci.com/news.html

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