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Carey Olsen claims market lead in funds

Carey Olsen claims market lead in funds

Wednesday 28 December 2022

Carey Olsen claims market lead in funds

Wednesday 28 December 2022

Carey Olsen has been confirmed as the leading legal adviser to Guernsey's investment funds sector by the independent research firm Monterey Insight.

The 28th annual Monterey Insight Guernsey Fund Report 2023, for the year ending 30 June 2022, showed that Carey Olsen Guernsey now advises 960 funds in total, of which 809 are Guernsey-domiciled schemes, which represents an increased market share to 73% of the total number of all Guernsey domiciled funds.

These 809 funds comprise US$323 billion of assets, which represent 81% of the entire Guernsey domiciled funds market by assets under management (AUM).

Ben Morgan, Partner and Group Head of Carey Olsen's funds practice in Guernsey said "The latest findings from Monterey Insight once again evidence our position as the go-to legal adviser in Guernsey for both domiciled and non-domiciled funds.

"Despite the challenging past year for many businesses, the funds industry in Guernsey has shown it is resilient, stable and showing signs of further growth since the pandemic.

"It underscores Guernsey's position as a centre of excellence for the domiciliation of investment funds for many of the largest fund managers in the world. The considerable dominance of Carey Olsen is a credit to our team's expertise and experience and reflects the significant commitment from all of our clients to domicile their funds in Guernsey."

Overall, Monterey Insight found that fund assets serviced in Guernsey stood at US$517.8 billion at the end of June 2022. The total number of serviced schemes stood at 1,280 and total number of sub-funds reached 1,520, an increase from 1,222 and 1,443 respectively from 2021.

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