Jersey Finance will be commissioning independent research into the value the industry brings to UK pension funds, and working to enhance the perception of the industry in Jersey, as part of its 2017 marketing plan.
Presenting the plan at Jersey Finance’s Annual Review on 27 January, Geoff Cook, CEO of Jersey Finance, said 2016 had been a record-breaking year, with funds business in Jersey reaching its highest level since 2008 and the island now the world’s sixth largest hedge fund management centre.
He said: “Jersey’s finance industry has evolved considerably over the past decade and more than half of our business is now institutional in nature. That means Jersey firms are supporting things like pension, university and sovereign wealth funds.
“But that is perhaps not widely understood. For that reason, we will be doing further research work this year to explain Jersey’s role in the global pension fund market.
“Our funds industry, meanwhile, continues to grow and diversify. Firms here are well established in the private equity, real estate, hedge and infrastructure fund space, but they are also reporting more activity in the private debt fund market, providing financing for investment activity around the world in the absence of traditional sources of financing.”
Commenting on the current geopolitical environment and particularly Brexit, Cook said: “Pleasingly we are seeing a flight to quality and flows of business that might ordinarily have gone to other centres.
"We are not resting on our laurels, though; we are talking regularly to stakeholders in Europe and the UK to ensure Jersey’s message is heard in all the Brexit noise.
“We are also focused on differentiating Jersey as a finance centre through fintech and cyber security and enhancements to our companies, trusts and foundations laws.”