Leading fund intelligence authority, Lipper has listed Ipes as the second largest fund administrator in Guernsey by assets under administration in its 16th annual analysis of the Island’s fund industry.
The latest Lipper Guernsey Fund Encyclopaedia showed that despite adverse market conditions, the size of the funds servicing industry fell by less than 4% to USD278.7bn.
Michel Davy, Managing Director for Ipes Guernsey, says “Lipper’s findings correspond with what we have seen over the last 12 months. Whilst the market has been more challenging as a result of the downturn and the knock on effect this has had on fundraising and investment activity, we have continued to see strong interest in Guernsey from private equity fund managers.”
The report highlighted Guernsey’s strength in Private Equity and Venture Capital funds, which make up 47% of the assets domiciled on the Island. It also noted continued growth in the value of non-domiciled funds serviced in Guernsey, rising again to reach USD42.3bn.
Ed Moisson, Head of UKI and Cross-border Research for Lipper, said “The tougher market conditions cannot be underestimated and yet Guernsey continues to carve out niche areas of growth, such as servicing funds domiciled elsewhere”.
“Post crisis fund managers and investors are looking to jurisdictions with a sound reputation and proven track record, and this has played to Guernsey’s strengths and our own. Indeed, in the past 12 months we have taken on 20 new mandates.” says Davy.
This is the third consecutive year in which Ipes has been ranked second in the report. One of the first private equity specialists in the market, Ipes has experienced steady growth since it was founded in Guernsey in 1998. Today it has offices in London, Luxembourg, Jersey and Guernsey and employs more than 120 staff across the group.
The Lipper Guernsey Fund Encyclopaedia provides the only comprehensive analysis of service providers for funds in Guernsey. For more information about the report please download their press release.