According to figures released by the Jersey Financial Services Commission for the three month period ending 30 September, the net asset value of funds administered in Jersey increased by £3bn (1.7%) from £175.9bn to £178.9bn.
In addition, the total number of funds increased by 40 from 1,287 to 1,327, comparing favourably with the third quarter last year when the total number of funds fell by 35. Meanwhile, unregulated funds increased by 18 to 105.
The chief executive of Jersey Finance Geoff Cook said the industry was continuing to work with the government on a number of “inward investment initiatives” to strengthen Jersey’s position as a preferred centre for fund managers.
One recent initiative was the introduction of the Standard Form Expert Fund, a fund structure which, according to its creators law firm Crill Canavan and administrator Herald Fund Services, can make establishing a fund far simpler and up to 70% cheaper than using a normal structure.
Banking deposits also saw a marginal increase of 0.16% in the last quarter bringing assets on deposit up from £166.9bn to £167.2bn.
Cook said analysis showed that, while a high percentage of deposits originate from the UK and European non-EU countries, there were a growing number from the Middle and Far East.
