The 29th Monterey Insight Guernsey Fund Report has been released. It reveals that 80 new groups and sub-groups were launched in 2023, doubling the growth of 2022.
“Despite the significant range of political and economic uncertainty in 2023, Guernsey has shown resilience compared to other markets that have been hit harder by the current climate,” said Karine Pacary, Managing Director of Monterey Insight.
“Keeping the same trend as last year, over 20 promoters chose Guernsey to set up their funds, and private equity funds continue to be a strong performer and contributor to the Guernsey fund industry.”
The Head of Northern Trust in the Channel Islands, Dave Sauvarin, said the report is very positive.
“This report showcases Guernsey’s appeal as a top-tier fund domicile as it continues to attract and retain leading fund managers, especially in the private equity and private debt sectors.
“They are drawn by a combination of Guernsey’s longstanding experience teamed with a pragmatic approach to fund servicing. These attributes are key to supporting managers to meet and respond to the challenges of the rapidly evolving global marketplace.”