Offshore business jurisdiction is developing rapidly. Funds under management and administration in Guernsey grew by 5.7 billion pounds (5%) for the quarter ended September 30, 2006, and reached the total
120.5 billion pounds - the states of Guernsey Financial Services Commission. For the year, starting from September 30, 2005, increased to 28.8 billion pounds, reflecting an increase of 31.4%.
It should be noted that closed-end investment funds have increased by 5 billion pounds sterling (13%) for the quarter and 15.8 billion pounds (56.7%) for the year starting from September 30, 2005, and reached a total of 43.7 billion pounds by setting new record. Despite falling market, which affected some funds, Guernsey open increased by 62 million pounds (0.1%) for the quarter and by 9.7 billion pounds sterling (22%) for the year to September 30, 2005, and reached a new record value of 54 billion pounds.
Peter Moffatt - Director of Guernsey Financial Services Commission on securities transactions - said that: «Registration of new funds just amazes us to new record levels, moreover, the flow of requests for registration continues to grow steadily, both from international funds with established reputations in Guernsey, and of the founders of the new jurisdiction. Significantly increasing the demand among the founders, wishing to open their funds in Guernsey. They are attracted, above all, quality of service and existing regulations ».
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