Fourth Quarter Investment Statistics 2016

The net asset value of total funds under management and administration has increased in Sterling terms over the quarter ended 31 December 2016 by £6.5 billion (2.6%) to £255.9 billion.  For the year since 31 December 2015, total net asset values increased by £28.4 billion (12.5%). 

Within these totals Guernsey domiciled open-ended funds decreased by £3.3 billion (-7.2%) over the quarter to £42.3 billion.  This represents an increase of 3.3 billion (8.5%) over the year since 31 December 2015.

The closed-ended sector increased over the quarter by £6.8 billion (4.45%) to £159.4 billion.  This represents an increase of £19 billion (13.37%) over the year since 31 December 2015.

Non-Guernsey schemes, for which some aspect of management, administration or custody is carried out in the Bailiwick, increased by £3 billion (5.86%) over the quarter to £54.2 billion.  Since 31 December 2015 the net asset value of this sector has increased by £6.2 billion (12.92%).

The gross asset value of Guernsey open-ended funds as at 31 December 2016 was £54.5 billion, implying an average gearing level of 28.84%.  The gross asset value represents a decrease of £5.5 billion since 30 September 2016.

In the closed-ended sector, the gearing level is similar, with gross asset values of £174 billion (September 2016: £165 billion) implying a gearing level of 9.22%.

The gearing implicit in non-Guernsey open-ended collective investment schemes is approximately 1%, based on gross asset values of £54.8 billion (September 2016: £51.5 billion).