Growing investor interest in alternative assets has seen the number of private funds registered in Jersey grow by almost two-thirds (37%) in the last year.
According to statistics from the Jersey Financial Services Commission, there were 365 Jersey private funds (JPFs) by the end of September 2020.
In addition, the total value of regulated fund assets reached £365 billion, a rise of 7% on the previous year.
The JPF regime was launched in 2017 as Jersey sought to provide a funds structure to appeal to family offices.
The latest statistics come at a critical time for offshore domiciles such as Jersey given the Brexit backdrop and the market turbulence of 2020. Consequently, the numbers have been hailed by Jersey’s fund administrators.
Tim Morgan, chair of Jersey Funds Association, said: “Whilst other centres have struggled to keep up to speed as the environment has changed so quickly over the past 12 months, the sophisticated eco-system Jersey provides has proven to be hugely attractive amongst investors.”
According to Morgan, the JPF has been a “key element of that appeal”.
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