New findings from Monterey Insight, the independent fund research company, reveal the market shares of all service providers in Jersey’s fund industry.
Fund assets serviced in Jersey reached US$296.2bn at the end of June 2015, down 3.2 per cent from 2014. However, the number of serviced schemes increased to 1,120 and the total number of sub funds recorded also showed an increase at 1,559 (compared to 1,101 and 1,535 respectively in 2014).
For fund administration services across both domiciled and non-domiciled funds, State Street remained at the top of the table with $50.2bn in assets, followed in second place by Aztec Group with $44.3bn and Saltgate with $33.4bn.
Again, for both domiciled and non-domiciled funds, BNP Paribas maintained their first position as the largest custodian with $30.3bn in assets. JP Morgan $13.7bn climbed to second position (from 4th last year), and SG Hambros Trust are ranked third with $10bn.
Among legal advisers, Mourant Ozannes remain in top spot, advising on 817 funds, followed in second place by Carey Olsen with 479 funds and Ogier with 328 funds.
PwC is the largest auditor with 472 funds ahead of KPMG (259) and EY (172).
Among fund management companies, for the first time, BlackRock Financial Management take the lead of Jersey domiciled schemes with $16.1bn of assets, followed by CVC Capital Partners ($15.6bn) and ETF Securities ($13.6bn)
In 2015, private equity/venture capital funds stood at $76.0bn (compared to $84.3bn in 2014), accounting for 41.8 per cent of assets domiciled in Jersey. They are followed by property real estate funds with $50.7bn.
"We are pleased to reveal the 2015 report highlighting the shape of the Jersey fund industry. Jersey had a rather stable year in terms of total growth of assets, and actually showed a slight increase in the number of newly launched funds and new business coming to the island: over 115 new sub-funds (domiciled and non-domiciled) were launched during the year totalling $17.5bn (55 of which were Jersey domiciled new sub-funds).
"Additionally, in excess of 30 new promoters have chosen Jersey to establish their funds. Jersey continues to attract new investment and is regarded as a specialist in private equity funds, but is also competitive in other areas such as alternative funds and real estate funds,” commented Karine Pacary, Managing Director of Monterey Insight.