New UK Asset Management Strategy 'Good for Jersey'
Commenting on the UK Government’s newly announced strategy last week, outlining plans to maintain a burgeoning investment fund and encourage asset managers to stay in London amidst Brexit-related uncertainty, Mike Byrne, Chairman of the JFA, said:
“The clear emphasis of this strategy is to give UK fund managers confidence, particularly again a Brexit backdrop. Ultimately a healthy and vibrant UK asset management industry is good for Jersey too - we are excellently placed here to help and support UK fund managers with their EU and global distribution ambitions, and really there is no need for them to relocate from the UK.
Jersey is already enabling more than 130 non-EU, mainly UK, managers market their funds into the EU and in the run up to and post-Brexit we envisage that this number will rise. The paper also outlines plans to build out the UK asset management industry’s fintech, social impact and ethical investment capabilities, and Jersey’s expertise in this emerging area could well play a supportive role too.”