The net asset value of total funds under management and administration in Guernsey has decreased in Sterling terms over the quarter ended 31 March 2014 by £1.8billion (-0.6%) to £264.2 billion.
For the year since 31 March 2013, total net asset values decreased by £32.3billion (-10.9%).
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Within these totals Guernsey domiciled open-ended funds increased by £0.9billion (2.2%) over the quarter to £42.6 billion. This represents a decrease of £11.5 billion (-21.3%) over the year since 31 March 2013.
The closed-ended sector also increased over the quarter, by £0.4 billion (0.3%) to reach £136.5 billion. This represents a decrease of £0.5 billion (0.4%) over the year since 31 March 2013.
Non-Guernsey schemes, for which some aspect of management, administration or custody is carried out in the Bailiwick, decreased by £3 billion (-3.4%) over the quarter to £85.1 billion. Since 31 March 2013 the net asset value of this sector has decreased by £20.3 billion (-19.3%).
The gross asset value of Guernsey open-ended funds as at 31 March 2014 was £56.8 billion, implying an average gearing level of 33.3%. The gross asset value represents an increase of £1.5 billion since 31 December 2013. In the closed-ended sector, the gearing level is lower, with gross asset values of £148billion (December 2013: £150.9billion) implying a gearing level of 8.4%.
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By GlobalDataThe gearing implicit in non-Guernsey open-ended collective investment schemes is approximately 1.9%, based on gross asset values of £99.3 billion (December 2013: £97.4 billion).
