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JFA reforms designed to help promote industry

The Jersey Funds Association (JFA) has revised its structure to make it a more effective communications body for its members.

A series of new sub committees have been formed to concentrate on different aspects that affect the industry.

A product and strategic sub committee, headed by Russell Turner, will include representatives specialising in hedge funds, private equity, property, retail and managers/family offices in order that fund professionals can consult regularly on product developments.

A separate legal and regulatory committee, headed by Nick Kershaw, will assess regulatory proposals and other technical issues that might impact on funds business. A finance and support services committee, chaired by Nick Taylor, will include education and training in its remit.

Finally, a communications sub committee, led by Graeme McArthur, will focus on the promotion of the industry, both domestically and internationally, working alongside the finance industry promotional arm, Jersey Finance Limited.

More than 30 of the island's fund professionals are participating in the revised committee structure under JFA chairman Gary Clark and deputy chair Susan Clark.

 "Past chairman David Hall did an excellent job in co-ordinating the industry in the build up to the launch of the Expert Fund Guide in February 2004," said Clark. "It is our intention to build on the success the industry has enjoyed in the last 12 months, since the streamlined regulations made Jersey a more attractive domicile for alternative investment funds business."

He added: "The funds sector in Jersey is extremely diverse and the idea of the revised structure is to create a simple forum for communicating both internally and externally, so that we can take advantage of the wide ranging expertise that Jersey has across a broad spectrum of funds activity."

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