CONTINUEThis site uses cookies. By continuing to browse this site you are agreeing to our use of cookies. Find out more.
  1. Front Page
  2. News By Topic
  3. Jersey Funds Industry Continues To Break Records

Jersey Funds Industry Continues To Break Records

by Jason Gorringe,, London

14 August 2006

Jersey’s finance industry has started 2006 in a bullish mood, reporting another quarter of strong growth, Jersey Finance, the government's promotional body for the island's industry, has announced.

The funds sector in particular has continued to perform strongly, surpassing the previous record levels reached at the end of 2005. The Net Asset Value of funds under administration in Jersey has risen by almost 50% compared to the same period last year to reach a new record high of GBP156 billion ($296 billion). Meanwhile, the total number of funds serviced in the Island has broken through the 1,000 barrier.

Over the first quarter of 2006: bank deposits increased by GBP3.3 billion (1.8%) to GBP188 billion; the number of Expert Funds established in the Island increased from 134 to 169; the total value of funds under investment management increased by GBP9.1 billion (18.5%) to reach GBP58.3 billion; and 921 new Jersey company incorporations were registered, an increase of 313 (51.5%) over the same period in 2005.

Commenting, Beverley Le Cuirot, Director of Marketing and Communications, Jersey Finance Limited, said that fund growth is being driven by alternative investment classes, including property, private equity and hedge funds, many of which have been established under the Jersey Expert Fund Regime.

“We believe that the growth in these specialist areas reflects the clear and continuing commitment of the Island’s government and regulatory authorities to support the Industry’s drive to establish Jersey as the European domicile of choice for alternative investment, and as a leading international funds administration centre," she stated.

To see today's news, click here.


Tax-News Reviews

Cyprus Review

A review and forecast of Cyprus's international business, legal and investment climate.

Visit Cyprus Review »

Malta Review

A review and forecast of Malta's international business, legal and investment climate.

Visit Malta Review »

Jersey Review

A review and forecast of Jersey's international business, legal and investment climate.

Visit Jersey Review »

Budget Review

A review of the latest budget news and government financial statements from around the world.

Visit Budget Review »

Stay Updated

Please enter your email address to join the mailing list. View previous newsletters.

By subscribing to our newsletter service, you agree to our Terms and Conditions and Privacy Policy.

To manage your mailing list preferences, please click here »