Jersey’s funds industry continued to see a rise in the number of alternative fund managers choosing to market their funds through national private placement regimes (NPPR) in the second half of 2018, according to the latest figures from the Jersey Financial Services Commission (JFSC).
Data from the JFSC shows that the number of Jersey-registered managers opting to market into the EU through NPPR rose 4% between July and December 2018, and by 13% compared with December 2017, to stand at 168.
Meanwhile, the total number of Jersey alternative funds being marketed into the EU through NPPR also increased to stand at 314, representing a 3% increase since June 2018 and an 8% rise year-on-year.
Joe Moynihan, CEO, Jersey Finance, said: “We are now just weeks away from the UK’s departure from the EU and the clear evidence is that alternative managers are putting their faith in Jersey and opting for a regime that offers them market access certainty and a welcome degree of flexibility, thereby enabling them to get on with generating returns for investors.
“These are strong figures for the second half of 2018 that sustain a growth trajectory we have been seeing for some time now as we continue to work with the UK and other non-EU managers to provide them with future certainty.”