The current business turmoil in international markets appears to be having a continuing impact on Guernsey funds, which have declined for the second quarter in a row.
The net asset value of funds under management and administration fell by £10.2 billion (3.7%) to £264.1 billion from October to December, following a decline of £3 billion in the previous quarter.
Despite the two consecutive quarters of decline, over the last 12 months total net asset values in Guernsey funds increased by £4 billion.
Jersey has not yet released its December statistics and so it is difficult to draw comparisons, but in the July-September 2011 quarter Jersey fund assets under management increased by just under £1 billion to £197.6 billion, and in the 12 months to September 2011 they grew by almost £13 billion.
It is early days, but there seem to be signs that Jersey is closing the gap on its neighbour and business rival.
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