Jersey’s alternative funds market continues to grow, new
Ogier funds partner Simon Schilder believes the growth, and
continuing confidence in the sector, is influenced by ESMA’s
recommendation about the extension of the AIFMD marketing passport
The number of Jersey-registered alternative investment fund
managers (AIFMs) marketing into Europe through national private
placement regimes (NPPRs) under the EU Alternative Investment Fund
Managers Directive (AIFMD) rose significantly in the second half of
2015, according to the Jersey Financial Services Commission.
By September 2015, the net asset value of all alternative funds
being administered in Jersey had grown by 12% year-on-year to
£159bn, including rises of 21% in hedge, 2% in private equity
and 16% in real estate funds.
As at December 2015, 104 AIFMs had been authorised in Jersey to
market into Europe through NPPRs, up 24% compared to the half-year
figure. The number of Jersey AIFs being marketed into Europe
through NPPR authorisation was 230, a 12% increase compared to June
Simon Schilder said: “Following ESMA’s
recommendation last year that there were no barriers to the
extension of the AIFMD marketing passport to Jersey, these
statistics underscore the significance of the certainty that
Jersey’s ESMA recommendation has created for investment
managers looking to structure fund products into the European
market through Jersey structures. We are already seeing
a strong pipeline of new fund business for 2016, such that we fully
expect to see growth in each of these metrics during the months to
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