Guernsey's funds industry continues to thrive with growth in funds under management and administration of £16 billion from April to June to stand at just under £300 billion.

Figures released by the Guernsey Financial Services Commission show a 5.5% rise in the net asset value of total funds under management and administration in Q2 – a rise that Walkers' Funds partners Kate Storey and Matt Sanders say is backed up by a steady stream of client work.

Kate – a Guernsey Advocate who joined Walkers from the partnership of another Island firm 12 months ago – said that the firm was continuing to recruit to meet significant growth in demand.

Kate said: "It's interesting to see rises in the NAV of both open-ended and closed-ended schemes of 11.2% and 3.5% respectively – that's down in no small measure to the versatility of the Guernsey model, and the fact that so many professionals in the industry understand it, and have used it for many years."

"It's also down to the willingness of the regulator to innovate – and the Guernsey Green Fund is a good example of that – and to the quality of the funds professionals in the Island, who are looking after more than 800 schemes with a combined value of just under £300 billion."

Matt Sanders added that the growth in the number of funds also demonstrated confidence in the Guernsey model.

"The fact that figures show a small increase in the number of funds is very positive, as it shows that the funds reaching their natural end are being replaced and that fund managers are choosing Guernsey ahead of competitors," he said.

"It's interesting that the last 12 months have seen a 7.5% rise in the number of registered, as opposed to authorised, funds – given the trends that we have seen in client inquiries and demand, we think that could reflect the popularity of the Guernsey Private Investment Fund model."

This year has already seen the arrival of Guernsey-born senior counsel Zoe Hallam from the firm's Cayman office as well as the arrival of Adam Pickering from an in-house role as Director & Compliance Manager of a local trust company and associate Mark Finlayson, from another Guernsey firm.

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