The progress of the EU draft Directive for Alternative Investment Funds Managers and the future of Jersey’s alternative fund industry will be at the centre of debate at Jersey Finance’s Funds Conference in London later this month.

The event, which will be held on Tuesday 30th March, has been organised by Jersey Finance in association with the Jersey Funds Association and takes place at the Honourable Artillery Company, Armoury House, City Road, London.

Following a challenging year across the global funds sector, the conference entitled ‘A Tale of Two Cities, London – Brussels’, will explore how the draft Directive is progressing and what challenges and opportunities it presents to the alternative funds industry in Jersey.

Charlie McCreevy, until recently EU Commissioner for Internal Market and Services, will present a keynote speech in which he will explain the reasoning that led to the Directive and what role the Industry can play in the final outcome. Brendan McMahon, Partner and Global Asset Management Private Equity Leader at PricewaterhouseCoopers Jersey, will examine some of the enhancements that have been proposed in response to the concerns voiced by the global alternative asset management industry.

Following the key speeches, there will be a panel debate to encourage discussion about a range of issues, including the growing attraction of Jersey as a place for Hedge Fund managers to relocate to, the advantages of jurisdictions like Jersey for fund administration and why international service providers and promoters are continuing to choose Jersey. The panel will include the two speakers alongside Geoff Cook, Chief Executive, Jersey Finance and Martin De Forest-Brown, Director of International Finance, for the States of Jersey.

The panel debate will be facilitated by television journalist Michael Wilson, former Business Editor of Sky News and currently Business Analyst for GMTV.

Geoff Cook, Chief Executive, Jersey Finance, who will introduce the event, said:

“The past eighteen months have been challenging for all financial centres, but Jersey has shown resilience to these unprecedented conditions. Last year also saw perhaps the most significant issue for the alternative investment funds industry for several years in the shape of the proposed draft EU AIFM Directive. Jersey has been quick to analyse the implications of the Directive however, and is confident that it is well placed to continue to grow its alternative funds business in the years ahead.”

As at December 2009, the total net asset value of funds under administration in Jersey stood at £166.2 billion, an increase of 1.9% on the previous quarter, with specialist funds, including hedge, private equity and real estate accounting for over 70% of that total sum.

Jersey Finance’s 5th Funds Conference in London begins at 4.00 pm for 4.30 pm and will end at 8.30pm.

Ends.

Further information, please contact Adam Riddell, Crystal Public Relations, on tel +44 (0) 1534 639505 or e-mail adam@crystalpr.co.uk

Note to Editors:

There is no cost for media and UK based legal and financial professionals wishing to attend the conference.

All members of the media are invited to contact Jackie Maratier at Jersey Finance at jackie.maratier@jerseyfinance.je or tel: 01534 836008 or Adam Riddell at the above contact details to reserve a place.