Jersey has seen a sharp rise in the number of alternative fund managers marketing into Europe through national private placement regimes (NPPRs).
In the six months to December 2015, 104 alternative fund managers were authorised in Jersey to market funds into Europe through NPPRs – up 24% compared to June last year.
Over the same period, the number of Jersey alternative funds being marketed into Europe through NPPR authorisation stood at 230, a 12% increase compared to the six months until end-June 2015.
The figures are from Jersey Finance and the Jersey Funds Association (JFA) and taken from the Jersey Financial Services Commission.
JFA sees the rise in funds marketing into Europe as significant.
Jersey’s position as a hub for alternative funds marketing into the EU had been uncertain until the European Securities and Market Authority extended so-called passporting permissions last year to various jurisdictions.
Extending the third-country passport to jurisdictions outside of the European Economic Area raised significant legal issues, it has been said.
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