The JFSC’s first quarter statistics show that the net asset value of regulated funds under administration increased to £228.4 billion, a £2.6 billion rise on the previous quarter (October to December 2015).

Banking deposits increased by £1.9 billion during the same period to total £128.4 billion at the end of March.

Richard Corrigan, Deputy Chief Executive of Jersey Finance, said:

“The first formal indicators for 2016 show a positive performance across all sectors of Jersey’s finance industry.

“It is encouraging to see that the funds sector remains buoyant with a further steady increase in both the number of regulated funds and the value of funds under administration, which at £228.4bn is the second highest since March 2009. Alongside, the corporate sector is healthy, particularly in respect of the number of ‘live’ companies which now stands at 33,335, nearly 500 more than at the same point in 2015.

“Overall, the figures paint an upbeat picture and sit well with our ongoing compliance with the highest global standards, which helps distinguish us from other centres. With our status having been further reinforced only last month by the publication of the MONEYVAL report, in which Jersey was ranked at the very top of the table for its regulatory regime, we are well positioned for the future.

“Jersey is a kite mark for quality, a real attraction for international investors and, with the signs of sector growth across the board, these indicators can only help support our ability to attract further quality business from across the world.”

 

Financial Services Industry – Quarterly Report Period Ended 31 March 2016