The alternative asset classes, including private equity, real estate and hedge, continued to drive growth, now representing 89.5% of total funds business.
The value of hedge fund business booked in Jersey in particular grew over the past six months, increasing by 14%.
In addition, a total of 556 Jersey Private Funds (JPFs) have now been registered in Jersey since the structure was launched in 2017 an increase of 22% over the past twelve months.
Meanwhile, the total value of deposits held in Jersey banks increased by £10.8bn, 8%, over the first six months of the year to stand at £144.4bn – the biggest half year increase since 2019. 57% of deposits in Jersey banks were held in foreign currencies.
Pictured: Michael Johnson, Chair of the Jersey Funds Association (left) and John Moynihan, Jersey Finance CEO (right).
Jersey Finance CEO Joe Moynihan, said: “In a persistently challenging environment, these are really robust figures for our industry. We have seen consistently positive figures and a growth trajectory for our funds industry for some time now, and the past six months have consolidated our position as a leading specialist funds hub in Europe…These positive figures paint a very positive picture of the role Jersey is playing in supporting high quality cross-border capital flows.”
Jersey Funds Association Chair Mike Johnson added: “The fact that Jersey has maintained its upward trajectory in 2022 against a backdrop of instability in Europe and a complex post-pandemic fundraising landscape, is a reflection of the high regard in which Jersey is held by managers…The growth of the JPF, five years since it was introduced, is particularly noteworthy.”