Fund administration values break £300bn milestone

Thursday 20 December 2018

The value of regulated funds serviced in Jersey has broken through the £300bn barrier for the first time, according to the latest figures released by the Jersey Financial Services Commission (JFSC).

Figures for the third quarter of 2018 show that the net asset value of regulated funds under administration in Jersey grew 14% year-on-year to stand at £301.7bn, the highest recorded figure to date.

The statistics also show that all the alternative asset classes, which represent 82% of Jersey’s total funds business, recorded an annual increase of 26%. Private equity fund values rose by a considerable 41% to £89.6bn, hedge fund values increased by 18% to £56.8bn and real estate funds by 11% to £40.7bn.

The combined total of infrastructure, credit and debt funds also showed "impressive growth," increasing by 26% to stand at £59.5bn.

Pictured: Geoff Cook, Jersey Finance CEO.

Commenting on the figures, Geoff Cook, Jersey Finance CEO, said that evidence showed Jersey is providing an "attractive proposition for fund promoters."

“Meanwhile, the Monterey report confirms that Jersey is gaining real traction as a global hub for cross-border investment, with fund promoters from the US, Asia and Africa viewing Jersey as an expert jurisdiction for alternative fund servicing," he added.

"The UK remains a key focus for Jersey, and through Brexit we fully expect to see more UK managers looking to Jersey for specialist support. At the same time, though, a growing number of managers beyond Europe are exploring how Jersey’s robust, innovative regulatory framework and specialist alternatives expertise can support them with their global fund distribution, and that’s a fantastic endorsement of Jersey as a jurisdiction.”