More Jersey Fund Managers Targeting Europe In 2016
by Amanda Banks, Lowtax.net, London
06 March, 2017
There was an increase in Jersey-registered fund managers marketing into Europe through national private placement regimes in 2016.
Figures from Jersey's regulator, the Jersey Financial Services Commission, show that, in December 2016, 127 alternative investment fund managers had been authorized in Jersey to market into Europe through NPPRs under the EU's Alternative Investment Fund Managers Directive, up more than one-fifth (22 percent) compared with December 2015 numbers.
Over the same period, the total number of Jersey alternative investment funds being marketed into Europe through NPPRs also increased significantly to 254, representing a 10 percent year-on-year increase.
In addition, the Commission authorized a total of 29 depositaries in Jersey under the AIFMD, a figure that rose 12 percent over the year.
Commenting on the figures, Geoff Cook, CEO of Jersey Finance – the island's financial services sector promotional agency, said: "This sustained rise in private placement figures for Jersey shows that the alternative fund management community continues to find that the NPPR is an effective way to market funds into the EU and that there is real appeal in the stable and certain platform Jersey offers."
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