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New Research on Jersey Funds Industry


New findings from Monterey Insight, the independent fund research company, reveal the market shares of all service providers in Jersey’s funds industry. For fund administration services across both domiciled and non-domiciled funds, State Street remained in the top table with US$60.3bn in assets, followed by Bedell Fund Services (US$27.8bn) and R&H Fund Services (US$23.6bn). State Street secured the largest proportion of new administration business introduced over the past year (US$1.6bn in assets). Fund assets serviced in Jersey reached US$244bn at the end of June 2012, the number of serviced schemes rose to 1,187 and the total number of subfunds reached 1,477. BNP Paribas is the largest custodian with US$25.9bn in assets, ahead of SG Hambros Trust (US$10.6) and State Street (US$9.2bn). Among legal advisers, Mourant Ozannes offered legal advice to 909 funds, followed in second place by Ogier with 366 funds and Carey Olsen with 347 funds. PricewaterhouseCoopers is the largest auditor with 581 funds ahead of KPMG and Ernst & Young. Among fund management companies, the largest fund promoter of Jersey domiciled schemes is ETF Securities (US$20.8bn), followed by Nordic Capital with $10.7bn. Private equity/venture capital funds have the greatest assets and account for 30.6% of funds domiciled on the Island with US$49bn, closely followed by real estate funds which represent 25.1% of assets domiciled ($40.3bn). “This research highlights that Private equity/venture capital funds remain crucial for the Island’s funds industry, although the growth of ETFs domiciled here has been an important development. It has been a pleasure to work with the local industry for the eighteenth year to deliver high quality research that helps those involved to grow their businesses,” comments Karine Pacary, Managing Director of Monterey Insight.


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