A strong performance in Jersey's funds sector in 2014 has
seen the value of fund assets administered in the jurisdiction
increase by almost one fifth year-on-year to reach the highest
level in seven years.
The latest figures for Jersey's finance industry, collated
by the Jersey Financial Services Commission (JFSC) for the period
ending December 2014, show that the net asset value (NAV) of funds
under administration in Jersey grew by £23.5bn over the final
quarter of last year to now stand at £228.9bn, representing
an increase of 19% compared to December 2013 and the highest level
since December 2008. In addition, the total number of regulated
funds rose by 19 during the quarter.
This was led by another strong performance in the alternative
asset classes, which account for 72% of the total NAV, with the
value of hedge fund business growing by 46% year-on-year, real
estate business growing by 32% to its highest ever level, and
private equity maintaining a steady increase of 5% in the same
Meanwhile, six months after the implementation phase for the
Alternative Investment Fund Managers Directive (AIFMD) ended,
Jersey's private placement route into Europe continues to grow
in popularity amongst fund managers. Figures from the JFSC show
that 60 alternative investment fund managers (AIFMs) have received
authorisation under Jersey's AIFMD private placement regime,
whilst 186 Jersey alternative investment funds (AIFs) are being
marketed into Europe through private placement regime. In addition,
14 AIF depositary notifications have now been received under AIFMD
from five different Jersey AIF depositary service providers.
Geoff Cook, Chief Executive, Jersey Finance, commented:
"The 2014 figures for Jersey's funds industry make
impressive reading. Not only has the value of funds business
reached its highest level since 2008, but the sizeable annual
increase of almost 20% is particularly pleasing in a global
fundraising environment that is still relatively challenging. This
growth is symptomatic of the confidence alternative funds
professionals have in Jersey and why a number of major alternative
fund houses have made the move to establish or expand their
presence in the jurisdiction recently."
Ben Robins, Chairman, Jersey Funds Association, added:
"The fact that there has been a strong upward trend across the
core private equity, real estate and hedge fund asset classes as
well as the debt and infrastructure fund spaces in the six months
since AIFMD was implemented is clearly pleasing. The number of
Jersey domiciled managers receiving authorisation to privately
place and the number of funds being marketed into Europe through
private placement under AIFMD is on the rise, and this goes to show
that managers clearly like the flexibility and robust nature of
Jersey's regulatory framework."
First published by the Jersey Finance 25 February 2015.
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