The Jersey fund industry saw a 3.5% increase in the net asset value of funds under administration in the first quarter of 2012, figures from the Jersey Financial Services Commision have shown. Meanwhile, the total sterling value of banking deposits held in Jersey fell by 2.6% (£3.2bn) from £158.1bn to £154.9bn, largely as a result of currency movements.
Jersey Finance CEO Geoff Cook sees a danger of financial centres being attacked by governments of countries such as France, should the bond markets punish any u-turns on austerity measures.
Jersey will be well positioned to grow its alternative funds business when the Alternative Investment Fund Managers Directive comes into place, according to speakers at a conference organised by Jersey Finance in London last week.
Jersey has joined the top ten locations in the world for wealth management and private banking services, climbing to eighth position, according to rankings in the latest Global Financial Centres Index (GFCI).