Jersey funds business reaches all-time high

Posted: 14/03/2019

Jersey Quarterly Report Dec18The value of regulated funds serviced in Jersey saw double-digit growth to reach an all-time high, while bank deposits also increased over the course of 2018, according to the latest figures from the Jersey Financial Services Commission (JFSC). 

Figures for the final quarter of 2018 (ending 31 December 2018) show that the net asset value of regulated funds under administration in Jersey grew 10% annually to stand at £319.9bn, the highest recorded figure to date, while the value of bank deposits held in Jersey grew 4% to £122.9bn, the highest figure since 2016.

Within the funds industry, the statistics show particularly strong performances in the alternative asset classes, which now represent 86% of Jersey’s total funds business, recording a year-on-year increase of 23%. Specifically, private equity fund values rose by 38% over the year to cross the £100bn mark for the first time and finish the year at £114.5bn. 

JoeMoynihan_JerseyFinanceRising levels

Meanwhile, the combined total value of infrastructure, credit and debt funds increased by 28% to £64.8bn, while the value of real estate funds grew by 10% to £41.4bn and hedge funds by 3% to £52bn.

JFSC data also shows that there were 205 Jersey Private Fund (JPFs) registered in Jersey at the end of December 2018, although the value of assets they manage, which totalled £19.4bn according to the latest statistics from the JFSC, is not included in these quarterly figures.

Jersey Finance CEO Joe Moynihan (pictured) commented: “These are really strong figures, clearly demonstrating that Jersey is continuing to provide a solid, resilient platform for international investors and an attractive proposition for fund managers. 

"Over the past five years, Jersey’s funds business has grown 66%, which is a fantastic achievement – managers are finding long-term appeal in Jersey’s regulatory standards, the global market access it can offer, its specialist expertise, and its forward-thinking approach. 

“In addition, our banking sector, the backbone of our finance industry, is also going through a significant evolution to ensure it can support the aspirations of investors.”

• The full set of quarterly statistics is available here

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