Carey Olsen confirmed as the leading legal adviser to Guernsey funds industry
Carey Olsen has again been confirmed as the leading legal adviser to the Guernsey investment funds sector in the newly released 30th annual Monterey Insight Guernsey Fund Report.
The Report shows that as of 30 June 2024, Carey Olsen advises 940 funds with a total asset value of more than US$385 billion, which is 718 more funds than the nearest competitor. Of these funds, 824 are Guernsey-domiciled schemes. The firm now advises nearly 73% of all Guernsey-domiciled funds which make up 83% of the entire Guernsey-domiciled fund market by aggregate assets under management (AUM). This represents a further increase of Carey Olsen's market share by client AUM.
Ben Morgan, partner and head of Carey Olsen's corporate, finance and funds group in Guernsey, commented: "We are delighted that Carey Olsen continues to be the leading legal adviser to Guernsey's investment funds sector, yet again increasing its market share by AUM. The vastly dominant position of Carey Olsen in Guernsey, a leading funds domicile in a highly competitive market, is a credit to our team's calibre, expertise and the high-quality relationships we hold with clients, both large and small."
Key findings from the Report confirmed another strong year for the Guernsey funds industry despite global economic challenges, with more than 60 new funds and sub-funds launched this year totalling US$7.6 billion. As of the end of June 2024, fund assets serviced in Guernsey were valued at US$532 billion and the number of serviced funds stood at 1360 and sub-funds at 1588 – an increase from the 2023 figures of 1343 and 1564 respectively.
