Jersey Finance H1 2018 figures reveal positive trends
24 October 2018 Saint Helier
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Banking deposits are rising and the value of the funds industry is at a record high, according to results published by Jersey Finance.
The statistics, collated by the Jersey Financial Services Commission (JFSC), show that all alternative asset classes recorded an increase from the start of the year to 30 June 2018.
The net asset value of regulated funds under administration grew by £15 billion during the second quarter of 2018 to stand at £296 billion at 30 June 2018, the highest recorded figure to date.
Jersey Finance found that banking deposits are higher at £121.2 billion, their highest since March 2016.
Private equity fund values rose by nearly £4 billion to £86.5 billion and real estate increased by £2 billion to £39.5 billion.
Hedge funds values increased by nearly £4 billion to £54 billion and the combined total of
infrastructure, credit and debt funds was nearly £10 billion higher at £59.6 billion.
The number of Jersey alternative investment funds being marketed into the EU through
national private placement regimes (NPPRs) continued to increase (up 5 percent since December 2017).
In addition, the number of Jersey registered managers opting to market into the EU through NPPRs under the Alternative Investment Fund Managers Directive also increased by 8 percent.
Commenting on the trends, Geoff Cook, CEO of Jersey Finance, said: “These latest figures offer clear evidence of the industry’s resilience during challenging times and demonstrate its ability to grow and thrive.”
He added: “It is certainly a tribute to Jersey’s stability, high regulatory standards and the global appeal of its range of investment structures. These combined strengths, delivered by a skilled workforce, ensure Jersey remains an attractive jurisdiction across a broad range of sectors.”
“When reviewing the figures during the first six months of the year, there are a host of positives to acknowledge and, with finance employment figures approaching the highest ever level coupled with more than 50 percent of business flows now coming from emerging markets, the industry is on a strong footing.”
The statistics, collated by the Jersey Financial Services Commission (JFSC), show that all alternative asset classes recorded an increase from the start of the year to 30 June 2018.
The net asset value of regulated funds under administration grew by £15 billion during the second quarter of 2018 to stand at £296 billion at 30 June 2018, the highest recorded figure to date.
Jersey Finance found that banking deposits are higher at £121.2 billion, their highest since March 2016.
Private equity fund values rose by nearly £4 billion to £86.5 billion and real estate increased by £2 billion to £39.5 billion.
Hedge funds values increased by nearly £4 billion to £54 billion and the combined total of
infrastructure, credit and debt funds was nearly £10 billion higher at £59.6 billion.
The number of Jersey alternative investment funds being marketed into the EU through
national private placement regimes (NPPRs) continued to increase (up 5 percent since December 2017).
In addition, the number of Jersey registered managers opting to market into the EU through NPPRs under the Alternative Investment Fund Managers Directive also increased by 8 percent.
Commenting on the trends, Geoff Cook, CEO of Jersey Finance, said: “These latest figures offer clear evidence of the industry’s resilience during challenging times and demonstrate its ability to grow and thrive.”
He added: “It is certainly a tribute to Jersey’s stability, high regulatory standards and the global appeal of its range of investment structures. These combined strengths, delivered by a skilled workforce, ensure Jersey remains an attractive jurisdiction across a broad range of sectors.”
“When reviewing the figures during the first six months of the year, there are a host of positives to acknowledge and, with finance employment figures approaching the highest ever level coupled with more than 50 percent of business flows now coming from emerging markets, the industry is on a strong footing.”
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