The organisation in the jurisdiction has published new figures on the growth of its funds industry.

The total value of funds business in Guernsey grew by about £20 billion ($27.1 billion) over the 12 months to the end of the third quarter of 2017, with the net asset value of all funds in the island standing at £269 billion at end-September 2017, up 8 per cent year-on-year.

The figures, compiled by the Guernsey Financial Services Commission, show two consecutive years of growth, with the net asset value of funds growing by nearly £25 billion between Q3 2015 and Q3 2016, it said.

The annual increase was mainly driven by growth in Guernsey-domiciled closed-ended funds, which increased by £13.7 billion (8.98 per cent over the year). Guernsey open-ended funds remained stable at £43.9 billion, the organisation said.