Positive first quarter of 2013 for Jersey’s funds sector

June 12, 2013

Jersey’s finance industry reported a positive first quarter of 2013, with the value of funds being administered increasing to their highest level in four years.

Within the funds sector, the total net asset value of funds under administration in Jersey surpassed the £200bn barrier for the first time since March 2009, showing a quarterly increase of 6.5% to stand at £205.3bn. There was also a £1.5bn rise in the value of funds under investment management, to stand at £22.7bn at the end of the three month period.

The latest statistics, collated and prepared by the Jersey Financial Services Commission, are for the three month period ending 31st March 2013. Headline figures across all sectors of the industry include:

  • The net asset value of funds under administration increased by £12.5bn from £192.8bn to £205.3bn during Q1 2013.  The total number of regulated funds increased by 7 from 1,388 to 1,395 over the same period. The total number of unregulated funds increased by 2 from 182 to 184 during the quarter.
  • The value of total funds under investment management increased by £1.5bn from £21.2bn to £22.7bn during the first quarter of 2013.
  • The total number of live companies increased by 287 to 32,790 at the end of Q1 2013.

Geoff Cook, CEO, Jersey Finance

Geoff Cook commented:

‘’All sectors of Jersey’s finance industry reported good growth performance during the first quarter of 2013. Our funds sector accounted for the strongest growth with a 6.5% increase in the net asset value of funds under administration.  The largest contribution came from the private equity and venture capital asset classes where a £4bn increase was noted and hedge funds reported a £2.7bn increase.

“In addition, the investment management sector grew its assets by 7.2%.  Jersey is home to several big brands in the asset management industry as well as a number of investment management houses offering boutique services.

“These latest statistics are extremely positive.  Jersey has a strong growth plan in place for its finance industry and we are confident our jurisdiction will continue to instil confidence with investors for many years to come.”

Nigel Strachan, Chairman, Jersey Funds Association

Nigel Strachan added:

“Particularly ahead of the introduction of the Alternative Investment Fund Managers Directive in July, it is pleasing that our funds industry continues to show strong signs of growth. Not only are new funds being launched in Jersey, with numbers of regulated and unregulated funds both increasing, but positive performances specifically in the private equity, venture capital, real estate and hedge fund asset classes reflect the confidence the international funds community has in Jersey as a specialist alternative funds centre in the long-term.”