First Quarter Investment Statistics 2018

First Quarter 2018

Investment Funds  

The net asset value of total funds under management and administration has decreased in Sterling terms over the quarter ended 31 March 2018 by £7 billion (-2.9%) to £263 billion.  For the year since 31 March 2017, total net asset values decreased by £5 billion (-1.5%). 

Open-ended Funds  

Within these totals Guernsey domiciled open-ended funds decreased by £1.67 billion (-3.8%) over the quarter to £41.8 billion.  This represents a decrease of £2.1 billion (-4.8%) over the year since 31 March 2017.

Closed-ended Funds

The closed-ended sector increased over the quarter by £1.39 billion (0.84%) to £167.8 billion.  This represents an increase of £3.5 billion (2.15%) over the year since 31 March 2017.

Non-Guernsey Schemes

Non-Guernsey schemes, for which some aspect of management, administration or custody is carried out in the Bailiwick, decreased by £7.6 billion (-12.5%) over the quarter to £52.8 billion.  Since 31 March 2017, the net asset value of this sector has decreased by £5.5 billion (-9.43%).

Gross Asset Values and Gearing

The gross asset value of Guernsey open-ended funds as at 31 March 2018 was £56.3 billion, implying an average gearing level of 29%.  The gross asset value represents an increase of £1 billion since 31 December 2018.

In the closed-ended sector, the gearing level is lower, with gross asset values of £182.3 billion (December 2017: £185 billion) implying a gearing level of 8.28%.

The gearing implicit in non-Guernsey open-ended collective investment schemes is approximately 0.37%, based on gross asset values of £53 billion (December 2017: £60.7 billion).