Jersey funds figures reach five year high

December 5, 2014

The latest figures for Jersey’s finance industry reflect a particularly strong performance for the funds sector, with the value of funds business in Jersey reaching the highest level in five years.

The statistics highlight that the net asset value (NAV) of regulated funds increased by £5 billion in the third quarter of 2014, and by around 5.5% year-on-year, to reach just over £205 billion, the highest figure since March 2009. In addition, the total number of regulated funds rose by 21 during the quarter.

This was led by another strong performance in the alternative asset classes, with private equity and real estate funds both growing on the previous quarter by over 4%, and real estate increasing by an impressive 33% year-on-year.

The latest statistics, collated and prepared by the Jersey Financial Services Commission, are for the three month period ending 30th September 2014, with headline figures including:

  • The net asset value of regulated funds under administration increased by £5bn from £200.4bn to £205.4bn during Q3 2014.
  • The total number of regulated collective investment funds increased by 21 from 1,283 to 1,304 over the same period. As at end of the third quarter of 2014, there were 204 unregulated funds of which 133 were active.
  • The total number of consents granted in respect of COBO only Private Placement funds increased by 3 to 30 with a reported total NAV of £696m.

Geoff Cook, Chief Executive, Jersey Finance, commented:

“Jersey’s funds sector is performing particularly well at the moment, with the total number of regulated funds increasing by 21 over the period and there was a £5bn increase in the NAV of funds under administration. The private placement route into the EU, meanwhile, remains a very attractive option for Fund Managers based outside the EU. ESMA recently issued a consultation paper on whether the AIFMD passport should be extended to third countries, which Jersey Finance is co-ordinating a response to together with the Jersey Funds Association.’’

Ben Robins, Chairman, Jersey Funds Association, added:

"The fact that there is a strong upward trend across Jersey’s funds industry in the period since the AIFMD was implemented is very pleasing, both in terms of fund launches, which are well up on last year, and in the value of funds business in Jersey, which has reached the highest level in five years, thanks to strong performance in the core private equity, real estate and hedge fund asset classes and growth in the debt and infrastructure fund spaces. All of these figures demonstrate good, steady growth and point to Jersey’s ongoing appeal for alternative funds business.”