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States of Guernsey and Frontier Economics report on international capital flows

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Tuesday 26 November 2019

Frontier Economics has recently been appointed by the States of Guernsey to analyse the economic benefits provided by the Guernsey funds sector (the "Sector") to the UK, continental Europe and the rest of the world.

Guernsey is a global funds specialist and Europe's leading market in private equity. It is the top overseas jurisdiction for London Stock Exchange listings.

Guernsey is a leading conduit for overseas investment, into the UK, from European and international investors, as well as facilitating access for UK investors into global assets. In September 2019, the net value of total funds under management and administration in Guernsey was £286.1 billion. The report will provide a unique opportunity to understand the value of the Sector internationally and to identify trends within the same.

Frontier Economics is the largest specialist microeconomics firm in Europe. They have worked widely in Guernsey, including on sector and economic strategies, in close cooperation with senior officials and businesses. The specialist team engaged on this project includes experts in finance and economics, as well as highly skilled technical analysts.

As part of this work, Frontier's team will be engaging with relevant stakeholders, including industry associations, fund administrators and investment managers with a view to collecting data and qualitative views on the Sector.

The Committee for Economic Development is responsible for engaging Frontier Economics to carry out this work on international capital flows. The Committee is confident that the report, which is expected to be delivered in January 2020, will be of significant benefit to the finance industry and its role in maintaining and enhancing Guernsey's position as a key International Finance Centre.

Deputy Charles Parkinson, President of the Committee forEconomic Development said,

"I am delighted that Frontier Economics has been appointed to undertake this important project, so that we can more fully understand the economic benefits of Guernsey's funds sector, and identify key trends for future opportunities for the Island.  This collective piece of work will highlight the significant benefit that the sector has to the UK, continental Europe and the rest of the world."

Christopher Jehan, Chair of the Guernsey Investment & Funds Association, said:

"Our Association is very supportive of the work to be undertaken, and we encourage our members to engage with Frontier Economics in providing the information necessary to produce this report. We are hopeful that the report will assist us in proving the benefit of our sector in key markets and that this will assist us in increasing international access for our products and services, and ultimately increase the economic benefit our sector provides to Guernsey."

Dominic Wheatley, the Chief Executive of Guernsey Finance said:

"We often talk about the synergy between Guernsey and the City of London and our role in facilitating international capital flows.  This report will help explain and quantify the role of our funds industry in channelling capital efficiently, and complementing the work of the City in funding key investments in areas such as environmental and social infrastructure globally."  

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