Positive figures about the size of the funds industry in Jersey were revealed at Jersey Finance’s London conference for the funds sector last week.
Elliot Refson, Business Development Director, Funds, at Jersey Finance, said the number of Jersey Private Funds (JPFs) had increased 25% in six months.
Figures from the Jersey Financial Services Commission (JFSC) showed that the number of JPFs – a structure introduced in 2017 to cater for the needs of small groups of sophisticated investors – had reached 257 by 30 June 2019, up from 205 at the end of 2018, with assets under management of £43bn.
Joe Moynihan (pictured), CEO of Jersey Finance, commented: “As investors look for stable IFCs that offer specialist expertise, Jersey can be a voice of reason among the noise, ready to support investor ambitions.”
He also pointed to more than 30 socially responsible investing funds already under administration in Jersey, with assets valued at $7.4bn.
The conference heard that, irrespective of the outcome of Brexit, Jersey could bridge the gap between the UK and Europe thanks to bilateral agreements with the EU, a longstanding relationship with the UK, and a recently signed memorandum of understanding between the JFSC and the UK Financial Conduct Authority.