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Posted: 16/12/2009 4:39:59 PM
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Attached is the latest press relase relating to the latest funds statistics - please note Geoff's quote:
“Whilst the reduction in the headline figure for funds is disappointing from a marketing perspective, there is minimal impact from this change in economic terms. The reduction in the figures is directly attributable to a large promoter taking the decision to restructure certain functions carried out in relation to its funds. As a result, certain functions that were previously being performed for the promoter’s non-Jersey funds have been transferred out of Jersey. This is not reflective of Jersey’s strong fund offering and has no effect on levels of employment nor on the profitability of our funds business. Without this one off adjustment the overall fund performance would have been marginally positive, with increasing numbers of new fund enquiries being received and specialist funds business showing an increase.”
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Stabilisationbankingfundsmarketmovements.doc
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