Funds under administration in Jersey grew by 19% last year, totalling £228.9bn at the end of December. According to the Jersey Financial Services Commission (JFSC), this is the Channel Island’s highest level of funds since December 2008.
Meanwhile, Jersey’s private placement route into Europe has grown in popularity among fund managers, six months after the Alternative Investment Fund Managers Directive (AIFMD) ended.
A total of 60 alternative investment fund managers (AIFMs) have received authorisation under the regime and 186 Jersey alternative investment funds are now being marketed into Europe.
“Robust nature”
“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,” said Geoff Cook, chief executive of Jersey Finance.
The figures indicate strong performance in the alternative asset classes, accounting for 72% of the island’s net asset value. This was partly driven by the growth of the hedge fund business which grew by 46% in the year, and real estate business which grew by 32% to reach its highest ever level.
Jersey Funds Association chairman, Ben Robins, said the increase in fund managers utilising the AIFMD regime “goes to show that managers clearly like the flexibility and robust nature of Jersey’s regulatory framework”.
The research also revealed that the total number of regulated funds increased by 19 during the last quarter of 2014.
