Jersey Funds Association Chairman highlights reasons for optimism at annual dinner
Over 400 funds professionals in Jersey heard that the jurisdiction is in a good position to continue to attract high quality funds business both in and outside of Europe this year, at the annual Jersey Funds Association (JFA) dinner.
The black tie event, which was attended by 420 people including funds professionals, as well as government, regulator and other industry representatives, took place at the Hotel de France on Friday 15th March. Bespoke fund administration and custody services provider Kleinwort Benson was the event’s lead sponsor, with Ipes, JP Morgan, JTC Group and Moore Fund Administration as silver sponsors. A champagne reception was also sponsored by BNP Securities Services.
At the event, Nigel Strachan, Chairman of the JFA, highlighted that, whilst 2012 had been a challenging year for the global funds community, Jersey had weathered the storm well and could remain optimistic given a positive set of end-of-year results for the funds industry. As at the end of December 2012, the net asset value of funds under administration in Jersey had risen to 192.8 billion – up £3 billion year on year.
A raffle held on the night to win an iPad Mini, donated by Aztec Group, and a case of champagne, donated by Volaw Fund Services, raised a total of £5,450 in aid of the Multiple Sclerosis Society and the Teenage Cancer Trust.
In addition, entertainment was provided by one of the UK’s top live comedians, Ed Byrne, who appears regularly on Mock the Week and Have I Got News For You, with music being performed during and after dinner by renowned musician Joe Stilgoe and MOBO-nominated singer-songwriter Natalie Williams.
Nigel Strachan said:
“As I enter my final year as Chairman of the JFA, I’m pleased that Jersey’s funds industry has remained resilient and is now extremely well placed to prosper in a new-look funds landscape. Political shifts and regulatory pressures across the globe have made fundraising difficult over the past 12 months, but Jersey has adapted well.
“Its approach to the EU Alternative Investment Fund Managers Directive in particular has enabled it to offer an ongoing compliant route into Europe and a regime that lies outside the scope of the Directive for non-European markets - a combination that I believe will be hugely attractive to the alternative investment fund community.
“The JFA continues to work hard on behalf of the industry, reviewing Jersey’s product range and legislative and regulatory framework, and it is fantastic to be able to recognise that hard work and the efforts of so many fund professionals in Jersey at our annual dinner.”