Alternative fund managers future-proof before Brexit through Jersey

The number of alternative fund managers choosing to future-proof their EU-focussed funds through Jersey has continued to grow in the first six months of 2018, according to the latest figures from Jersey’s financial regulator.

The Jersey Financial Services Commission said that until the end of June, the number of Jersey-registered managers opting to market into EU member states through national private placement regimes under the Alternative Investment Fund Managers Directive rose 8% between January and June 2018 and 23% year on year to stand at 161.

Meanwhile, the total number of Jersey alternative investment funds being marketed into the EU through national private placement regimes also increased, to stand at 306, representing a 5% increase on the December 2017 figure and an 11% rise since June 2017.

“Our message is clear – Jersey is ready to play a supportive role in enabling non-EU, including UK, managers to continue to market their funds to EU investors through our tried-and-tested private placement regime.

“These are strong figures for the first half of 2018 and a vote of confidence in Jersey as a future-proof jurisdiction from the alternative management community. We fully anticipate this figure will continue to rise as we approach Brexit,” said Geoff Cook (pictured), chief executive of Jersey Finance, in a statement.

Meanwhile the JFSC has also reported that they granted authorisation to 128 Jersey private funds, a fast-track regime that was launched only in April of last year to cater for limited numbers of professional and institutional investors.

Mike Byrne, chairman of the Jersey Funds Association, added: “The overall indications are that Jersey is continuing to find favour right across the alternatives spectrum, spanning private equity, real estate, hedge, debt and infrastructure. Alternative funds business in Jersey grew 18% over 2017, and we absolutely see this dynamic continuing through 2018.”

Pedro Gonçalves
Pedro Gonçalves is Financial Correspondent at International Investment.

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