Monday, July 23, 2018
UK Managers Can Look to Jersey for Continued EU Access Post Brexit
Coinciding with the publication of the UK government ‘s white paper on Brexit, ESMA issued a public statement earlier this month aimed at UK managers wishing to submit applications for authorisation in the EU once the UK leaves the EU. Commenting on the statement, Mike Byrne, Chairman of the Jersey Funds Association said:
“Of course, there might well be situations where UK managers need to establish a full EU operation. However, doing so is only one option and in many cases Jersey is actually well positioned to play a helpful supportive role for UK managers wanting to maintain ongoing access into the EU alternative investor market.
“Private placement is tried-and-tested and is continuing to work well through Jersey. There are now in excess of 150 managers and 300 funds marketing into EU in this way through Jersey and we continue to see a strong pipeline of activity right across the private equity, real estate and infrastructure asset classes in particular. In fact, the EU’s own figures suggest that only 3% of EU funds market into more than three EU markets, so in the vast majority of cases, Jersey can actually provide a perfectly viable and much more flexible, cost-effective solution. We’d certainly encourage UK managers not to panic and to assess all the options open to them as they look to navigate life post-Brexit.”
Comments (0) Trackbacks (0) Permalink
Post has no trackbacks.