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New Research on Jersey Funds Industry

Jeresey Financial Centre

New findings from Monterey Insight, the independent fund research company, reveal the market shares of all service providers in Jersey’s fund industry.

Fund assets serviced in Jersey reached US$305.8bn at the end of June 2014, up 31.9% from 2013, the number of serviced schemes amounted to 1,101 and the total number of sub funds recorded 1,535* (compared to 1,521 in 2013).

For fund administration services across both domiciled and non-domiciled funds, State Street remained at the top of the table with US$60.1bn in assets, followed in second place by Aztec Group with US$45.9bn (up from third in 2013) and Saltgate (US$37.5bn) in third position.

BNP Paribas maintain their first position as the largest custodian with US$29.9bn in assets, ahead of State Street with US$10.1bn and Capita Trust Company with US$9.7bn.

Among legal advisers, Mourant Ozannes offer legal advice to 842 funds, followed in second place by Carey Olsen with 381 funds and Ogier with 325 funds.

PricewaterhouseCoopers is the largest auditor with 505 funds ahead of KPMG and EY.

Among fund management companies, for the first time the largest fund promoter of Jersey domiciled schemes is CVC Capital Partners with US$15.9bn of assets, followed closely by ETF Securities (US$15.8bn) and by Nordic Capital with $15.5bn.

Private equity/venture capital funds have the greatest assets and account for 39.7% of funds domiciled on the Island with US$84.3bn, followed by property real estate funds with US$51.6bn.

“We are pleased to share some positive numbers for the Jersey fund industry showing an increase of the number of funds launched since last year and also an increase of assets, reaching its highest level since 2008. Private Equity and Real Estate funds continue to cement Jersey’s fund industry, although the largest number of Jersey domiciled funds launched since June 2013 were traditional funds.

Once again we are pleased to highlight how Jersey demonstrated its capability to grow in a challenging global competitive market.” comments Karine Pacary, Managing Director of Monterey Insight.

*Some umbrella funds that have previously been combined at scheme level have this year been updated to reflect a change in the overall fund count. On this basis, the total number of funds and sub-funds serviced in Jersey last year was 1,521. This amendment only affected the overall total number of sub-funds. Any reference to previous Jersey Fund Reports, or media summaries of this work, should bear this in mind.

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