Jersey Funds Experience First Quarter Growth
by Jason Gorringe, Lowtax.net, London
08 June, 2016
Jersey's finance industry grew in the first three months of 2016, the island's financial services regulator has reported.
Statistics collated by the Jersey Financial Services Commission show that the net asset value of regulated funds under administration increased by 1.1 percent to JEP228.4bn (USD332.7bn).
Banking deposits rose 1.5 percent during the same period, increasing by JEP1.9bn (USD2.76bn) to total JEP128.4bn (USD187.1bn) at the end of March.
Richard Corrigan, Deputy Chief Executive of Jersey Finance, the promotional agency on behalf of the island's financial services industry, said: "The first formal indicators for 2016 show a positive performance across all sectors of Jersey's finance industry."
"It is encouraging to see that the funds sector remains buoyant with a further steady increase in both the number of regulated funds and the value of funds under administration, which at JEP228.4bn (USD332.7bn) is the second highest since March 2009." He added that "the number of 'live' companies, which now stands at 33,335, [is] nearly 500 more than at the same point in 2015."
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