However, it saw a £3bn drop in the net asset value of its funds under management and administration.
Figures from the Guernsey Financial Services Commission (GFSC) revealed that 42 new investment funds were approved in the second quarter of this year, resulting in a total of 131 additions during the 12 months to the end of June.
It approved two open-ended funds, 17 closed-ended funds, and 23 non-Guernsey open-ended schemes between the start of April and the end of June, representing a net growth of 13 funds during the quarter.
This takes the total number of funds currently approved for domiciling or servicing in Guernsey to 1,108.
The regulator approved 26 new funds in the first quarter of 2014, along with 33 in the third quarter of 2013, and 30 in the fourth.
The GFSC statistics also show that the net asset value of all funds under management and administration in Guernsey fell by £2.9bn over the second quarter to £261.3bn at the end of June.
Open ended funds also decreased in value by £1.9bn to £40.7bn while closed-ended funds fell by £0.8bn to £135.7bn.
“Straddles”
Guernsey Finance chief executive, Fiona Le Poidevin, said the fact that the increase in funds “straddles” the transitional period for the introduction of the Alternative Investment Fund Managers Directive (AIFMD) shows that promoters are recognising the island’s ability to distribute funds into both European and non-European jurisdictions.
She added that the fall in value of funds under management and administration over the last quarter is a symptom of “general market conditions and currency exchange rate factors”.
“Nevertheless, it also demonstrates the continued challenges facing the industry and the need to stay ahead of the game.
“Overall, Guernsey’s fund sector is in a stable position, we’ve seen growth in the number of new funds coming to the island, and a positive response to our regime under AIFMD.
“As long as we respond appropriately to the headwinds then I am optimistic for the long-term future of the industry.”
In July, Le Poidevin announced that she was moving from Guernsey Finance to the Channel Islands Security Exchange.
She will start the role early next year.
Her appointment comes in the wake of a rebrand for the scandal-hit institution, which was formerly known as the Channel Islands Stock Exchange (CISX).
Guernsey’s regulator had run an 18 month long investigation into CISX which discovered “historic activities” which it said were “killing its business”.
In April, Guy Coltman, a corporate partner at Carey Olsen, was appointed as non-executive director at the exchange, while Robert Christensen, managing director of Volaw, Paul Cutts managing director at Northern Trust, Guernsey, and Tim Herbert, a partner of Mourant Ozannes each resigned as board members.
