According to Fitzrovia International’s tenth annual Jersey Fund Encyclopaedia, the number of funds serviced in Jersey gew by 13.7% over the last year, with the total rising from 738 to 839 funds and subfunds over the year to June 30.
Total net assets reportedly rose from US$102.3 billion to US$107.0 billion, an increase of just under 5%. However, Fitzrovia revealed that looking solely at funds domiciled in Jersey, the increase in total net assets is a more impressive 24.9% (from US$62.6 billion to US$78.2 billion).
The Jersey Fund Encyclopedia additionally announced that the largest administrator of all funds serviced on the Island is Mourant International Finance Administration, with US$30.9 billion assets under administration.
Among professional firms, it emerged that PricewaterhouseCoopers (PwC) has strengthened its position as the largest auditor (503 funds), ahead of Ernst & Young (154 funds), and that Mourant du Feu & Jeune is the largest legal adviser (640 funds), ahead of Bedell Cristin (364 funds) and Ogier & Le Masurier (330 funds).
A comprehensive report detailing the investment fund sector in most key offshore jurisdictions, with details of the regulatory structure, is available in the Tax News Reports Shop at http://www.tax-news.com/reportshop/
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