Jersey, the offshore fund domicile with EU equivalence for alternatives regulation, has introduced a regulatory framework for private funds to be authorised for sale in two days.
The Jersey Private Fund (JPF) will enable funds with up to 50 investors to take advantage of a quicker authorisation process and lighter ongoing regulatory requirements, the Jersey Funds Association said.
The launch follows Jersey’s near neighbour, Guernsey, which launched the Manager Led Product last year, and also Luxembourg’s ‘Raif’ and Malta’s ‘Naif’, which all attempt to streamline the regulatory load for alternative investments.
JPFs require a Jersey-based administrator, which the association said was to ensure compliance with international standards.
JPFs will also be available to managers that want to market funds into Europe through national private placement regimes. There are 250 alternative investment funds and 115 authorised alternative investment fund managers marketing into the EU via Jersey.
Geoff Cook, CEO of Jersey Finance, said: ” Our industry is built on speed to market and expertise combined with appropriate regulatory oversight, and by offering a 48-hour authorisation for funds with up to 50 investors, this product will further cement our position as a market leader.”
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