The value of funds administered in Jersey hit a record level at the end of 2016, according to the latest figures from the jurisdiction’s financial regulator.
In the final quarter of 2016, the total value of funds serviced through Jersey rose by 15% over the year to stand at £260bn. This growth was driven by alternative asset classes, which increased annually by the same proportion to £189.2bn.
This represents 73% of the island's total funds activity.
A breakdown shows
- Private equity up 30%
- Specialist funds including infrastructure, credit and debt up 48%
- Real estate funds up 7%
- Hedge funds stay steady at £52.4bn
Jersey Finance chief executive officer Geoff Cook described the figures as clearly very encouraging. They support the view that, in an uncertain market, Jersey is an attractive, stable and effective platform for alternative fund managers, he said.
“We are a well governed, risk-averse, outward-looking jurisdiction with ongoing European market access and strong links to the UK, and all that is proving an attractive proposition for managers and investors looking for stability and certainty.”
Jersey Funds Association chairman Mike Byrne said
- it’s a powerful global endorsement of Jersey
- some of the highest value funds in the world are launching in Jersey
- a number of new promoters are using Jersey for the first time
- current trends indicate a substantial increase in future allocation to alternatives
“We’re not complacent though, which is why we’re continuing to focus on innovation within our funds regime,” Byrne added.
“The launch in March of our new fast-track Jersey Private Fund is an example of that; we are already seeing strong interest in that as a vehicle for institutional and high net worth investors to bring highly targeted and timely funds to market.”