Jersey Seeks Another Successful Year In 2017
by Jason Gorringe, Lowtax.net, London
07 February, 2017
Setting out the agency's plans for this year, Geoff Cook, the CEO of the island's inward investment promotion agency, Jersey Finance, said 2016 had been a record-breaking year.
Addressing 300 industry leaders and politicians at a recent breakfast event, Cook said funds business in Jersey had reached its highest level since 2008 and the island is now the world's sixth-largest hedge fund management center.
Cook said Jersey Finance would commission independent research in 2017 into the value the island's financial services industry brings to UK pension funds, and work to enhance the perception of the industry in Jersey.
Cook said: "Jersey's finance industry has evolved considerably over the past decade and more than half of our business is now institutional in nature. That means that Jersey firms are supporting things like pension, university, and sovereign wealth funds, but that is perhaps not widely understood. For that reason, we will be doing some further research work this year to explain Jersey's role in the global pension fund market."
He added: "Our funds industry, meanwhile, continues to both grow and diversify. Firms here are well established in the private equity, real estate, hedge and infrastructure fund space, but they are also reporting more activity in the private debt fund market, providing financing for investment activity around the world in the absence of traditional sources of financing. We will be exploring the opportunities in this innovative area more thoroughly."
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