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Channel Islands Investment Companies hit record GBP50bn AUM

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The assets under management of investment companies domiciled in the Channel Islands have reached a record high pf GBP50.1 billion as of 31 August, according to the Association of Investment Companies (AIC).

This is the first time assets have exceeded GBP50 billion surpassing ttheeh previous record of GBP49.9 billion set on 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 GBP2.43 billion. This was significantly higher than the same periods in 2016 and 2015, where Channel Islands investment companies raised GBP1.53 billion and GBP1.51 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 (pictured), Chief Executive of the Association of Investment Companies (AIC), says: “The assets of investment companies domiciled in the Channel Islands have reached an all-time high exceeding GBP50 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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