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Channel Islands investment companies hit record £50 billion assets under management

2 October 2017

Assets of Channel Islands-domiciled investment companies exceed £50 billion for the first time.

The assets under management of investment companies domiciled in the Channel Islands have reached a record high according to the Association of Investment Companies (AIC). The assets of Channel Islands-domiciled investment companies totalled £50.1 billion at 31 August 2017. This is the first time assets have exceeded £50 billion. The record follows another recent all-time high when Channel Islands assets hit £49.9 billion at 30 June 2017.

There are 99 investment companies domiciled in the Channel Islands. Over the eight months to the end of August 2017 Channel Islands-domiciled investment companies achieved strong levels of secondary issuance raising £2.43 billion. This was significantly higher than the same periods in 2016 and 2015, where Channel Islands investment companies raised £1.53 billion and £1.51 billion respectively. The period has also seen the launch of a new investment company domiciled in the Channel Islands, EJF Investments from Sector Specialist: Financials, which launched in April.

Ian Sayers, Chief Executive of the Association of Investment Companies (AIC), said: “The assets of investment companies domiciled in the Channel Islands have reached an all-time high exceeding £50 billion. It is very encouraging to see Channel Islands investment companies growing so strongly. In a low interest rate environment demand remains high for investment companies generating income. In addition, the benefits of the closed-ended structure for accessing illiquid assets like property are clear, as demonstrated by the problems of open-ended property funds last year.”

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Notes

  1. The Association of Investment Companies (AIC) was founded in 1932 to represent the interests of the investment trust industry – the oldest form of collective investment.  Today, the AIC represents a broad range of closed-ended investment companies, incorporating investment trusts and other closed-ended investment companies and VCTs.  The AIC’s members believe that the industry is best served if it is united and speaks with one voice. The AIC’s mission statement is to help members add value for shareholders over the longer term. The AIC has 352 members and the industry has total assets of approximately £174 billion.
  2. Disclaimer: The information contained in this press release does not constitute investment advice or personal recommendation and it is not an invitation or inducement to engage in investment activity. You should seek independent financial and, if appropriate, legal advice as to the suitability of any investment decision. Past performance is not a guide to future performance. The value of investment company shares, and the income from them, can fall as well as rise. You may not get back the full amount invested and, in some cases, nothing at all.

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Annabel Brodie-Smith
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