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Jersey Fund Industry Reports Strong Growth In 2014

by Jason Gorringe, Lowtax.net, London
25 February, 2015

The latest figures for Jersey's finance industry show that the net asset value (NAV) of funds under administration stood at GBP228.9bn (USD355.07bn) at the end of last year, an increase of 19 percent compared with the previous year and the highest level since December 2008.

Alongside the GBP23.5bn year-on-year increase in funds under administration, the total number of regulated funds rose by 19 during the final quarter of the year.

Investment in alternative asset classes grew substantially, with the value of hedge fund business growing by 46 percent year-on-year; real estate business growing by 32 percent, to its highest ever level; and private equity maintaining a steady increase of five percent in the same period.

Geoff Cook, Chief Executive of Jersey Finance, said: "The 2014 figures for Jersey's funds industry make impressive reading. Not only has the value of funds business reached its highest level since 2008, but the sizable annual increase of almost 20 percent is particularly pleasing in a global fundraising environment that is still relatively challenging. 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."

Ben Robins, Chairman, Jersey Funds Association, added: "The fact that there has been a strong upward trend across the core private equity, real estate and hedge fund asset classes as well as the debt and infrastructure fund spaces in the six months since The EU Alternative Investment Fund Managers Directive (AIFMD) was implemented is clearly pleasing. The number of Jersey domiciled managers receiving authorization to privately place and the number of funds being marketed into Europe through private placement under AIFMD is on the rise, and this goes to show that managers clearly like the flexibility and robust nature of Jersey's regulatory framework."

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