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JFA News
Friday
04
July 2025

JFA highlights Jersey’s solution to private client and funds sector convergence

Jersey is well positioned to support managers in a landscape where the convergence of the alternative fund and private client sectors remains a key trend – but the industry must focus on innovation if it is to maintain its growth trajectory, according to speakers at this year’s Jersey Funds Association (JFA) annual dinner.

More than 400 people from across the industry, including lawyers, fund administrators, fund managers, compliance experts and accountants as well as politicians and regulatory representatives, attended this year’s dinner, held recently (20 June).

Speaking at the event, Mike Johnson, JFA Chair, told the audience that, in a persistently challenging environment, Jersey had fared well against its competitors. In particular, he pointed to the ongoing success of the Jersey Private Fund (JPF) regime, with the total number of JPFs now standing at 750 – a 5% increase on last year –while the total value of fund assets serviced in Jersey now sits at around £540bn.

Nevertheless, the sector faced several ongoing challenges, particularly around fundraising difficulties in the middle market and broader liquidity constraints. Despite these headwinds, Jersey remains well-positioned to attract new business, thanks to its speed to market, regulatory flexibility, tax neutrality, high-quality service, and familiar legal framework.

Mike also highlighted how liquidity pressures are prompting managers to explore the convergence of the alternative funds and private client sectors. Here too, Jersey stands out, leveraging its longstanding private wealth expertise and international reputation to support this growing trend. He said:

“The continued growth of Jersey’s funds sector, despite geopolitical uncertainty, fundraising headwinds and liquidity constraints, is a clear reflection of the strength and resilience of our proposition. But we cannot be complacent. To remain competitive, we must keep innovating – by evolving our product suite, refining our regulatory approach, and embracing forward-looking priorities such as retailisation and technology.

“We’re fortunate to benefit from a strong, collaborative relationship with government, the JFSC and Jersey Finance, all aligned in our commitment to building a future-ready financial ecosystem.”

In addition, Vice Chair of the JFA and Chair of the Legal & Technical sub-committee, Joel Hernandez, pointed to the rapid pace of change in the sector and the work undertaken by the committee, from consulting across industry on sustainable finance to shaping the future of AIFMD II. He specifically highlighted enhancements on the horizon for the JPF, and the committee’s input into Jersey Finance’s Vision2050 project, aimed at affirming the Island’s future-focussed finance sector. He added:

“The pace of change in our industry is relentless, but what sets Jersey apart is its ability to respond quickly, work collaboratively, and stay ahead of the curve. The efforts of our sub-committees are fundamental to that success, positioning Jersey’s funds industry strongly to thrive in an increasingly complex global landscape.”

Meanwhile, attendees at this year’s dinner raised more than £11,000 for local charity Kezia’s Fund, which the JFA had previously pledged to support as part of a three-year commitment, thanks to a raffle held during the evening. Over three-years, the JFA has now raised some £37,000 for Kezia’s Fund, which aims to support mental health among children and young people aged 5 to 25 and their families in Jersey; and provides grants and support to organisations that work to improve children and young people’s mental wellbeing. 

Mike added: “I’m heartened by the fantastic turnout at our annual event and in particular the generosity shown by all those who attended to support the vital work of Kezia’s Fund.”

This year’s Dinner Gold Sponsor was Mourant while Silver Sponsors were IQEQ, BNP Paribas Securities Services, Ogier, B-Flexion and PwC. Champagne Sponsor was Carey Olsen while NextGen Sponsors were KPMG and Gen II, and Technology Sponsor was Allvue.

More than 400 people from across the industry attended this year’s JFA Annual Dinner...

Monday
11
November 2024

JFA Legal and Technical Sub-Committee outlines areas of evolution

The JFA’s Legal and Technical and Risk and Compliance Sub-Committees recently provided an update on the current landscape and some of the measures the industry is taking to maintain Jersey’s leading position as a centre for alternative investment funds...

Members of the JFA’s Legal and Technical and Risk and Compliance Sub-Committees provided an update to professionals from across Jersey’s funds sector recently, at a briefing that explored the current landscape and some of the measures the industry is taking to maintain Jersey’s leading position as a centre for alternative investment funds.

Setting the scene, Joel Hernandez, Vice Chair of the JFA and Chair of the JFA Legal and Technical Sub-Committee, highlighted the pressure the funds industry has seen over the past year.

He also pointed out that competition between international finance centres remains intense and that Jersey's continued attractiveness as a fund domicile relies on it continuing to have jurisdictional stability, effective regulatory options and tax simplicity. Considerations such as service quality, talent retention, being digitally enabled and cost-effectiveness are key to differentiating Jersey from other IFCs in the coming years.

Joel also highlighted the progress the JFA has made in supporting changes across Jersey’s funds sector. Notably this has included the JFA's work with the Jersey Financial Services Commission (JFSC) and Jersey Finance on the recent updates to the Jersey Private Fund (JPF) Guide, as well as the recent JFSC guidance issued on the Tokenisation of Real-World-Assets.

Joel Hernandez

Commenting on the event, Joel Hernandez, Vice Chair of JFA and Chair of the JFA Legal and Technical Sub-Committee, said:

“There’s no doubt the past year has been challenging for the  funds industry at large. Part of the JFA's role has been to help industry respond to these challenges by progressing developments through collective innovation with the JFSC and Jersey Finance."

“Despite the challenges, there is good reason for Jersey's funds industry to remain positive given its strong position. It's also pleasing to also see industry, government and the regulator collectively moving towards a "growth mindset" and a renewed focus on innovation. This will be critical to the future success of the Jersey funds industry."

Jon Stevens, Chair of the JFA Regulatory and Compliance Sub-Committee, added:

“Against that backdrop, asserting Jersey’s relevance as a robust, expert and progressive centre is critical. Offering regulatory choice, delivering on speed to market and tax simplicity with a familiar rule of law and good access to EU investor capital will all be important as we move into 2025 – all whilst maintaining a close eye on cost effectiveness.”

JFA News
Wednesday
07
August 2024

JFA maintains support for Kezia’s Fund through annual dinner fundraising

The JFA has helped raise another sizeable total to support the work of Kezia's Fund through this year's annual Dinner

Attendees at this year’s Jersey Funds Association (JFA) Annual Dinner have helped raise a significant sum in aid of Kezia’s Fund as part of its ongoing commitment to support the local charity.

More than 400 people from across the industry attended this year’s Dinner, held at the Trinity Showground on 28th June, between them helping to raise £14,420 towards Kezia’s Fund, thanks to a raffle held during the evening.

The fundraiser forms part of a three-year commitment on behalf of the JFA to support Kezia’s Fund, which is managed by the Jersey Community Foundation. The latest effort means that the JFA has helped raise almost £27,000 for the charity over the past two years, whilst it will also be helping at the Run for Kezia event in September this year and encouraging its members to participate.

Kezia’s Fund aims to support mental health among children and young people aged 5 to 25 and their families in Jersey; and provides grants and support to organisations that work to improve children and young people’s mental wellbeing. 

Michael Johnson, JFA Chair, said:

“I’m really pleased that the generosity of those who attended our Dinner this year have helped once again to raise such a good sum to support the work undertaken through Kezia’s Fund. These efforts form part of our wider commitment on behalf of the JFA to support the charity and the vital, amazing work it undertakes.”

Anna Terry, CEO of Jersey Community Foundation, added:

“The JFA has made a very welcome commitment to help continue the legacy of Kezia's Fund, including through this latest fundraising effort, and we are extremely grateful to all those who helped raise such a fantastic total once again this year. These substantial funds will go towards helping to address the critically important and prevalent issue of children and young people’s mental health in Jersey.”

Donations to Kezia’s Fund can be made at: www.kezias-fund.raisely.com.

JFA News
Tuesday
16
July 2024

Jersey Funds Association cites opportunities for industry in challenging landscape

More than 400 professionals from across Jersey's funds industry attended this year’s JFA Annual Dinner, held at the Trinity Showground recently...

Professionals from across Jersey’s growing funds industry came together last month to explore the key trends shaping the cross-border funds landscape and celebrate Jersey’s achievements over the past year.

More than 400 people from across the industry, including lawyers, fund administrators, fund managers, compliance experts and accountants as well as politicians and regulatory representatives, attended this year’s Jersey Funds Association (JFA) Annual Dinner, held at the Trinity Showground on 28th June.

Speaking at the event, Michael Johnson, JFA Chair, told the audience that, in a challenging year globally for the sector, Jersey had held its position well. In particular, he pointed to the ongoing success of the Jersey Private Fund (JPF) regime, with the total number of JPFs now standing at just over 700 – an increase of 100 since last year – whilst the total assets under administration in Jersey now sits at £520bn.

Nevertheless, he pointed to the need to maintain momentum if Jersey was to retain its leading position as a European funds domicile with global ambitions. He said:

“After five continuous years of growth, the performance over the past year was largely flat, which is a first for Jersey, but not unexpected given the incredibly difficult fundraising environment we have seen over the past year at a global level. The outlook remains calm but not stable, and we need to be alive to the macro conditions shaping our industry.”

In particular, Michael highlighted that alternatives – including private equity, real estate and venture capital - continue to represent 90% of Jersey’s total funds business, a model that has created a stable platform of long-term capital. However, there was now a risk of that model being buffeted by global trade-winds, with Michael urging caution in the face of increased competition as market conditions improve:

“There are brighter times on the horizon but we cannot be complacent. Investors are continuing to apply pressure and are focusing new commitments on a narrow swathe of funds. Equally the activity related to the mountain of dry powder available remains stunted by historical standards. It’s vital that Jersey recognises that these macro-economic and political circumstances are out of our control and finds ways to ensure it can keep its wheels turning.

“It’s critical that we focus acutely as a jurisdiction on what managers really care about when it comes to choosing a fund domicile and assert our core strengths – our speed and our high-quality service levels in particular. By embracing innovation and being agile, we can also enhance our product and service range, including exploring the introduction of a Jersey ELTIF solution and clarifying our virtual assets proposition, for instance.”

Vice Chair of the JFA Joel Hernandez pointed further to the need for targeted innovation, and the significant volume of technical issues the JFA had addressed over the past year. In particular, he highlighted updated guidance to the JPF and progress being made in the virtual assets space:

“The recently published updated JPF Guide will help evolve and modernise that product further. This includes widening the categories for eligible investors, mutual recognition for carry schemes that have an element of team co-investment and widening the categories for family and employment connections. A similar approach is also being taken to update the JFSC's guidance to industry on virtual assets, specifically the tokenisation of real-world assets. This is a clear trend and it’s vital that Jersey maintains its reputation for good practical guidance to secure its future in this space.”

Gold sponsor for the evening was Mourant and silver sponsors were IQEQ, PwC, Ogier and BNP Paribas whilst the champagne reception was sponsored by Carey Olsen and the NextGen table was hosted by Gen II and KPMG.