Alongside the launch of the new fund category, the number of funds overall that have been set up in Jersey is still showing a marked increase, despite the difficult trading conditions being experienced globally.

Figures for the first quarter of 2008 recorded that at least 59 new funds were established. The number of Expert Funds has increased by a further 18 during the same period, and the first unregulated funds, though not included in the statistics, have also been established.

The total number of funds stands at 1,370, up from 1,311 in December and 170 more than a year ago, according to the finance industry body.

Richard Thomas, Chairman of the Jersey Funds Association, commented that:

"The success of the Expert Fund regime has shown that Expert Funds designed for professional investors can sit alongside other regulatory regimes available in Jersey and that they complement each other. We are confident that the new unregulated offering will continue this trend. It is a logical extension to the existing fast track Expert Fund regime, providing vehicles that will meet a specific market demand."

Since the launch of the vehicle in February, a number of unregulated funds have been formed, including a fund investing in solar energy products, another seeking development capital for small and medium sized European businesses involved in renewable energies, and a property fund investing in real estate in California.

Delegates from the Jersey Funds Association (JFA) will attend the Forum, which attracts some of the biggest names and most influential practitioners in the world-wide funds industry.

Jersey Finance, the representative arm of the finance industry in Jersey, is attending and co-ordinating the visit with JFA representatives.

The Jersey delegation will be setting up and manning a stand for the three day event which opens on Tuesday.

Geoff Cook, Chief Executive of Jersey Finance stated that:

"There are now a number of regulatory routes to set up a Jersey fund and each one has an appropriate level of investor protection. We will be using the GAIM event as a platform in which to explain the entire range of fund offerings now available in the Island and how they suit different demands from the Industry."