The Guernsey Financial Services Commission (GFSC) said funds under management and administration reached �140.4bn at the end of March.

That is a rise of �10.2bn (7.8%) since the beginning of the year and �29bn (26%) since the same time last year.

Finance experts say the Channel Islands Stock Exchange announcing its 2,000th security listing has helped Guernsey's funds industry.

Peter Moffatt, director of investment business at the GFSC, said: "The record level of fund approvals seen in 2006 shows no signs of slowing down.

"There is a continuing flow of enquiries and expressions of interest from both new promoters and promoters already represented through their existing Guernsey funds."