Jersey funds NAV hits 5-year high
Jersey Finance has said that NAV of regulated funds domiciled in the jurisdiction increased by £5bn in the third quarter of 2014 to reach over £205bn – a five year record high.
The figures represent a 5.5% year on year increase in NAV, as the number of regulated funds rose by 21 to 1,304 in the quarter. At the end of the quarter there were some 204 unregulated fund
Alternative investment funds continued to attract investors, Jersey Finance added; as private equity and real estate funds grew 4% on the previous quarter, and real estate increasing 33% on an annualised basis.
Geoff Cook (pictured), chief executive of Jersey Finance, added: “The private placement route into the EU, meanwhile, remains a very attractive option for fund managers based outside the EU. Esma recently issued a consultation paper on whether the AIFMD passport should be extended to third countries, which Jersey Finance is coordinating a response to together with the Jersey Funds Association.”