Jersey Sees Increase in European Marketing As Fund Industry Grows

Aug 4 2016 | 5:10pm ET

A new report by the Jersey Financial Services Commission shows the number of Jersey-registered alternative investment fund managers marketing into Europe through national private placement regimes under AIFMD continued to rise consistently through the first half of the year. 

As of June 2016, 115 alternative investment fund managers had been authorized in Jersey to market into Europe, up 11% compared to December 2015, according to a statement from the Commission. Over the same period, the number of Jersey alternative investment funds being marketed into Europe through private placement regimes stood at 251, a 9% increase.

The report comes shortly after the European Securities and Markets Authority recommended on July 19 that Jersey be among the nations granted an AIFMD passport.

The latest figures for Jersey’s investment funds sector show that Jersey’s funds industry continues to grow, with the NAV of assets under administration rising to £228.4 billion in the first quarter of 2016, the second highest level since 2008. 

The increase is being driven by alternative asset classes, and in particular, strong performances in the private equity (+10% annually) and real estate (+20% annually) asset classes. 

“It’s clear that the alternative fund management community is finding appeal in the optionality and certainty of the European market access Jersey is able to offer,” said Geoff Cook, CEO of Jersey Finance, in the statement. “The potential for an AIFMD passport in the future is giving managers real confidence in Jersey’s long-term future as an alternative funds domicile.”

Jersey Finance, a not-for-profit marketing organization, was formed in 2001 to represent and promote Jersey as an international financial center. 

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