Tue, 15/03/2005 - 06:07
A new campaign highlighting the benefits of using Jersey for niche market funds and family offices is aiming to bring further specialist business to the island.
In a move designed to attract a select group of international fund managers and wealth management professionals to the jurisdiction, the island's finance industry is promoting the value of establishing an office presence in Jersey.
Jersey Finance, the industry's promotional body, has worked in conjunction with the Jersey Funds Association and the island's government to drive the initiative, which follows the successful introduction of the expert funds regime last February.
Commenting on the new campaign, Jersey Finance chief executive Phil Austin said: "Since the launch of the expert funds regime, Jersey Finance and its member firms have received numerous enquiries from fund promoters and managers currently located outside the island, who are now considering using Jersey as a base for their international fund management activities.
"We believe that Jersey is ideally positioned to attract further specialist fund providers and family office professionals," he continued.
Jersey Funds Association chairman Gary Clark added: "Jersey is already home to many investment, trust and custody professionals who have extensive experience in the provision of services to the alternative fund management industry and we have been witnessing increasing levels of funds business since the launch of the streamlined fund regulations last year. The island is also a leading centre for family office solutions and is extremely well placed to service this growing market. These factors help make Jersey an appropriate base for this specialist, high value business."
Supporting the promotional drive, Jersey Finance has developed a brochure entitled: 'Jersey - A Centre for Niche Fund Management and Family Offices'.
This literature is designed to assist firms interested in setting up a Fund Management or Family Office operation in Jersey, outlining the current financial and business regulations, and immigration and housing laws as well as summarising the Island's fiscal rules.
"Our brochure brings together a number of the regulatory and business environment factors pertaining to Jersey that such individuals would need to consider if they were to re-locate, whilst simultaneously highlighting the many strengths that Jersey offers as one of the world's leading international finance centres," added Austin.
The brochure will be widely distributed, and will also be available during the industry's forthcoming promotional activity abroad, including the Jersey Funds Association participation at SuperReturn in Frankfurt this week and Jersey's Government-led industry delegation to the Gulf from 1 to 10 March.
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