The JFSC data shows that 205 Jersey funds were given access to the European passports through private placing. This is an increase of 10% compared to December last year.
The number of fund managers who have received private placement authorisation has now reached 84, up 40% compared to the previous six months.
This follows last month’s announcement from the European Securities and Markets Authority (ESMA) recommending that Jersey and five other nations be included in the first wave of ‘third non-EU countries’ to be granted a passport under AIFMD.
National private placement regimes allow alternative investment fund managers to market alternative investment funds that are not allowed to be sold under the AIFMD domestic marketing regimes.
Significant development
“Whilst of course the endorsement from ESMA in July was a significant development for Jersey’s funds community, it’s extremely pleasing that at the same time managers and promoters are continuing to find appeal in the ‘business as usual’ private placement route,” said the chief executive of Jersey Finance Geoff Cook.
“With private placement expected to remain in place until at least 2018 and the potential to activate the AIFMD passport in Jersey in due course, the evidence all points to genuine confidence in Jersey for the management, domiciliation and servicing of funds across a range of strategies and target markets.”
JFSC figures also indicate that the net asset value of all regulated funds under administration in Jersey grew by around 9% year on year, to stand at £218bn (€296bn, $338bn) at the end of June.
Alternative asset classes saw a 15% annual rise, the hedge fund business grew by 31% year-on-year, and real estate funds were up by 16% annually.
In July last year, a large number of funds showed interest in using private placement into Europe under AIFMD.
