The value of regulated funds serviced in Jersey rose by 7% to a new record high in the first half of 2019, according to the latest figures from the Jersey Financial Services Commission (JFSC).
Figures for the second quarter of 2019 (ending 30 June 2019) show that the net asset value of regulated funds under administration in Jersey grew by £22.1bn over the first six months of the year to £342.1bn, a figure that has grown by more than 70% over the past five years.
The alternative asset classes continued to perform strongly, recording a combined rise over the first six months of 2019 of 6% to represent 85% of Jersey’s total funds business.
Once again, private equity was pivotal in driving the growth, rising by 14% over the six-month period. There was also growth in real estate (up 2.5%) whilst infrastructure, credit and debt funds rose collectively by 2% and hedge funds decreased by 3%.
The quarterly figures come shortly after it was announced at Jersey Finance’s Annual London Funds Conference this month that the number of registered Jersey Private Funds had grown by 25% over the half year to 257.
Figures from the JFSC also reveal positive news in the banking sector, where the value of deposits held in Jersey grew 5% in the first half of the year to stand at £129.3bn, the highest figure since 2015.
• The full set of quarterly statistics is available here