Guernsey funds value sees eighth quarterly increase

The value of investment funds based in Guernsey has grown for the eighth successive quarter, according to the Guernsey Financial Services Commission.

The net asset value of funds managed or administered in the island rose by £10.8bn between 1 April and 30 June.

The latest total of £274.5bn is £50.2bn (22.5%) higher than the previous year.

Peter Niven, the chief executive of Guernsey Finance, said: "The last two years have seen our popularity increase in all areas of the fund business."