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Jersey Fund Sector Reports Strong 2016

by Jason Gorringe, Lowtax.net, London
24 May, 2017

The value of funds being administered in Jersey rose to a record level at the end of 2016, according to the latest figures from the jurisdiction's financial services regulator.

The figures show the total value of funds being serviced through Jersey rose by 15 percent over the year to stand at GBP260bn (USD335bn), the highest value ever recorded. This growth was driven by alternative asset classes, which increased annually by the same proportion to GBP189.2bn (USD243.8bn). They now represent almost three quarters (73 percent) of Jersey's total funds activity.

Within the alternative asset classes, private equity fund values performed particularly strongly, rising by almost a third year-on-year (30 percent) to stand at GBP59.7bn (USD77bn), whilst there was a significant jump in the combined total of "specialist" funds, including infrastructure, credit, and debt funds (48 percent). Real estate fund values also rose by seven percent during the course of the year, whilst hedge fund values remained steady, ending the year at GBP52.4bn (USD67.5bn).

Geoff Cook, CEO of the island's financial services promotion agency, Jersey Finance, said: "These are clearly very encouraging figures for 2016, and support the view that, in an uncertain market, Jersey is an attractive, stable and effective platform for alternative fund managers. We are a well-governed, risk-averse, outward-looking jurisdiction with ongoing European market access and strong links to the UK, and all that is proving an attractive proposition for managers and investors looking for stability and certainty."

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