Jersey alternative funds increase EU foothold

Jersey flagThe number of Jersey funds that are being marketed into Europe through private placement regimes under the Alternative Investment Fund Managers Directive (AIFMD) increased by 10% in the first half of the year.

A total of 205 Jersey funds are now sold in this way, according to research by the Jersey Financial Services Commission (JFSC) for the end of June this year.

The Commission also reports that 84 fund managers now have private placement authorisation, up 40% over the previous six months.

The net asset value of all regulated funds under administration in Jersey has grown by around 9% year on year. It now stands at £218 billion (€190.4 billion), with alternative asset classes growing 15% annually.

Last month, the European Securities and Markets Authority recommended Jersey for the first wave of non-EU countries that can obtain a marketing passport under AIFMD.

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