Publication of the latest Guernsey and Jersey fund reports by independent industry research group Monterey Insight has confirmed Carey Olsen's status as the leading legal adviser to funds across the Channel Islands.

The 25th editions of the Guernsey and Jersey reports were published earlier this year and once again provided a comprehensive analysis of fund service providers and advisers in each island. Together, the reports show that for the year ending 30 June 2019, Carey Olsen's Guernsey and Jersey teams advised a total of 1,053 Channel Islands domiciled funds, which is 657 more than its nearest competitor and represents a market share among all Channel Islands law firms of 51.3%.

By assets under management (AUM), these 1,053 schemes total US$403.5 billion, which represents 61% of the entire Channel Islands market and is over US$250 billion more than its nearest competitor. Ten years ago, the firm's Channel Islands market share was just 33% by number of domiciled funds and 34% by AUM.

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Of the 1,053 Channel Islands domiciled funds Carey Olsen now advises, 675 were Guernsey schemes which represents 73% of the entire Guernsey market. For Jersey, Carey Olsen had now moved into first place among legal advisers to Jersey domiciled funds, advising 378 schemes, which is 88 funds ahead of its nearest competitor.

"These are an outstanding set of results and underline the exceptional growth the firm has experienced over the past 10 years," said Ben Morgan, partner and head of Carey Olsen's corporate and finance group in Guernsey.

"They are a testament to the calibre of our funds experts, the size of our respective teams in Guernsey and Jersey and the strength of relationships we hold with fund managers, both large and small, and the onshore advisers we regularly work alongside."

James Mulholland, a partner in Carey Olsen's Jersey investment funds team, said: "To unequivocally establish ourselves as the leading law firm for both Jersey and Guernsey domiciled funds is a credit to our team's hard work and dedication to our clients. It's nice for us to pause to acknowledge these endorsements and redouble our focus on serving our clients and their advisors during these challenging times."

For total funds across the Channel Islands, which includes both domiciled and non-domiciled Guernsey and Jersey funds, Carey Olsen again leads the way. The firm advises on a total of 1,512 schemes (798 in Guernsey and 714 in Jersey), which is 691 ahead of its nearest competitor and represents an AUM of US$599 billion.