Jersey Finance sees positive start to 2020 06 July 2020St Helier Reporter: Rebecca Delaney
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The net asset value of regulated funds under administration in Jersey grew by £15.3 billion (4 percent) to £361 billion in the Q1 2020, according to the quarterly statistics of the Jersey Financial Services Commission.
The number of Jersey private funds registered in Jersey also increased by 7 percent over the quarter to a total of 328.
Compared to Q4 2019, bank deposits held in Jersey increased by 2 percent to a total of £145.7 billion, while the number of corporate formations increased by 1.4 percent to 32,956.
These figures are seen by Jersey Finance as an indication of “resilience” within Jersey’s financial services industry against growing global market challenges.
Joe Moynihan, CEO of Jersey Finance, commented: “While these figures reflect activity in the early stages of global market disruption caused by the COVID-19 pandemic and before restrictions were introduced in Jersey, these are nevertheless positive figures for the industry.”
“The indications are that investors are seeing Jersey as a resilient, stable, high-quality centre for managing assets and structuring investments, and these are qualities that will be highly sought after in the months ahead as we continue to help them navigate a challenging landscape.”
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