More Jersey funds and fund managers have been authorised for marketing into Europe over the last 12 months as the Island continues to see healthy growth in the asset management sector.
Ogier partner Niamh Lalor says that the attraction of Jersey as a funds jurisdiction is demonstrated by the 17% rise in alternative investment fund managers (AIFMs) and the 15% rise in Jersey alternative investment funds (AIFs) marketed into Europe through the National Private Placement Regime (NPPR).
The NPPR system allows non-EU Alternative Investment Fund Managers and Alternative Investment Funds to market funds into the EU but only if they comply with each EU country's national regime.
The NPPR route will ultimately be replaced by the extension of the AIFMD passport regime – the European Securities and Markets Authority says that there are no significant obstacles to the passport being extended to Jersey – but there is no clear timeframe for the new regime's arrival.
Niamh said that the latest figures for the end of 2017 showed that the lack of a passport was not holding the Island back.
She said: "The rise in both managers and funds being authorised through the NPPR route demonstrates not just the confidence in Jersey as a jurisdiction, but also the way that the market sees the NPPR route as practical, effective and economical.
"These figures bear out what we see in our own pipelines of work, which show that the Jersey Private Fund regime in particular is proving very popular."
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
