Jersey’s fund administration industry saw the assets it administrates rise to a record level at the end of 2016, figures just released show.
Assets under administration (AuA) were £260 billion, an increase of 15% over the year, according to the local funds association quoting official figures.
Growth was driven by alternative asset classes, which make up almost three quarters of the island’s funds under administration.
‘Specialist’ funds – including infrastructure, credit and debt funds – grew assets by 48%; private equity by a third, and real estate fund values rose by 7%.
Hedge funds values “remained steady”, said the Jersey Funds Association, with assets of £52.4 billion.
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