The total number of unregulated funds, geared towards professional and institutional investors, also increased by a significant 8.5%, from 153 to 166 whilst the number of regulated funds grew 1.4%, from 1,392 to 1,412.
But over the same period banking deposits decreased by 2.6%, although Jersey Finance chief executive Geoff Cook said this decrease could “largely be explained by currency movements, with a relatively stable underlying position.”
Meanwhile, the value of total funds under investment management increased from £20.8bn to £21bn (0.9%) and the total number of live companies stood at 32,816 at the end of March 2012.
Cook said: “There is no doubt that 2012 will be a decisive year. Market participants are preparing for the worst with the Eurozone crisis taking on worrying proportions and economic uncertainty continuing to have a negative impact on growth.
“The investment management sector saw a 1% increase in the value of assets under investment management during the first quarter of 2012 and 646 new companies were formed."
He added: “In these uncertain times there is a strong demand from investors for high quality safe harbours like Jersey."
Jersey Financial Services Commission compiled the figures for the three month period ending 31 March 2012.
