The net asset value of total funds under management and administration has decreased in Sterling terms over the quarter ended 30 September 2013 by £19 billion (-6.6%) to £267 billion, according to the statistics released by Guernsey Financial Services Commission.
For the year since 30 September 2012, total net asset values decreased by £7.4billion (-2.7%).
Go deeper with GlobalData
Access deeper industry intelligence
Experience unmatched clarity with a single platform that combines unique data, AI, and human expertise.
In addition to net outflows during the quarter Sterling strengthened against the US Dollar and Euro which had a large negative effect on the overall total funds under management in Sterling terms.
Within these totals Guernsey domiciled open-ended funds decreased by £5.1billion (-10.26%) over the quarter to £44.6 billion.
This represents a decrease of £6.8 billion (-13.2%) over the year since 30 September 2012. The closed-ended sector decreased over the quarter, by £5.5 billion (-3.8%) to reach £132.3 billion. This represents an increase of £1.9 billion (1.5%) over the year since 30 September 2012.
Non-Guernsey schemes, for which some aspect of management, administration or custody is carried out in the Bailiwick, decreased by £8.4 billion (-8.5%) over the quarter to £90.4 billion. Since 30 September 2012 the net asset value of this sector has decreased by £2.3 billion (-2.4%).
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataThe gross asset value of Guernsey open-ended funds as at 30 September 2013 was £60.5 billion, implying an average gearing level of 35.6%.
The gross asset value represents a decrease of £7.3 billion since 30 June 2013. In the closed-ended sector, the gearing level is lower, with gross asset values of £148.7 billion (June 2013: £153.8 billion) implying a gearing level of 12.4%.
The gearing implicit in non-Guernsey open-ended collective investment schemes is approximately 14.6%, based on gross asset values of £103.6 billion (June 2013: £105.9 billion).
