Number, value of funds fall in latest IoM statistical quarterly

The number of funds and their total assets under management fell in the three months to the end of June, according to the latest Isle of Man Financial Services Authority Statistical Quarterly Bulletin.

The biggest falls were seen in the categories Authorised Schemes (retail), where net asset value fell -29.18%, and in Closed-Ended Investment Companies (OEIC), where NAV fell -27.01%.

The least falls in percentage terms were seen in the categories Qualifying Fund - up +0.67% - and in Experienced Investor Funds (Legacy EIF), where there was no change in NAV.

Some 15 OEIC funds ceased during the period, as well as some 14 Exempt Schemes, and two in the area described as "Services to overseas managers or administrators of schemes (previously Inward Outsourcing)".

Non-Isle of Man schemes, but which are administered in the jurisdiction, continue to dominate the market. The origin of these are reported as:

• Cayman 67
• BVI 49
• Jersey 3
• UK 4
• Malta 5
• Ireland 2
• Bahamas 2
• US 2
• St Vincent 1
• Netherlands 2
• Canada 20

By asset class, private equity leads, followed by property then 'other', while limited company, LP and unit trust structures make up the top three legal constitutions.

To read the full quarterly Bulletin, click here: https://www.iomfsa.im/media/3068/stats-bulletin-30-june-2022.pdf