Number of Jersey Private Funds Funds up 25 per cent in six months
The number of Jersey Private Funds (JPF) had increased 25 per cent in six months. Figures from the Jersey Financial Services Commission (JFSC) showed that the number of JPFs, a structure introduced in 2017 to cater specifically for the needs of small groups of sophisticated investors, had reached 257 by 30 June 2019, up from 205 at the end of 2018, with assets under management of GBP43 billion.
Joe Moynihan, CEO of Jersey Finance, says: “As investors look for stable IFCs that offer specialist expertise, Jersey can be a voice of reason among the noise, ready to support investor ambitions.”
Furthermore, irrespective of the outcome of Brexit, Jersey has been able to bridge the gap between the UK and Europe thanks to the bilateral agreements that are in place with the EU alongside its long standing relationship with the UK, boosted by a recently signed Memorandum of Understanding between the JFSC and the UK Financial Conduct Authority which gives fund managers added certainty around accessing UK investor capital through Jersey in the build up to Brexit.