Our Numbers: Up!
I was at the SuperReturn conference in Boston last week helping to promote Jersey among the North American private equity and venture capital community, and it was great to be able to have positive and clear information to illustrate Jersey’s position as a leading international finance centre.14 June 2016
Yes, topics such as the Panama Papers, public registries, and Brexit still arose but I found that delegates were, if anything, more interested in the clear and positive facts: our glowing MONEYVAL report; the ESMA passport recommendation which demonstrates that Jersey’s access to European markets will continue; and the most recent quarterly statistics, which were released last week.
The quarterly statistics show that Jersey is faring well. Overall, the first three months of 2016 were buoyant, with steady increases in both the number of regulated funds and the value of funds under administration; and the corporate sector remained healthy, with the number of live companies now being almost 500 more than at the same point a year ago.
There has been a positive trend among funds for some time now, and the Q1 figures showed that we continue to do well in funds under administration, and in attracting fund managers to the island.
The figures show that we’re attracting business, but it’s the fact that we have such a strong regime which demonstrates that it is quality business which is attracted to Jersey, and that our commitment to complying with the highest global standards is distinguishing us from other centres.
In previous blogs I have talked about the glowing report that Jersey recently received from MONEYVAL, and it is fantastic to have that independent, internationally-recognised endorsement of our work; it’s as though Jersey has been recognised as a kite mark for quality, and that will continue to be a great tale to tell.
It’s part of a story that I have been relaying to the American funds industry, one which includes the quality of the island’s regulatory framework, our position regarding the EU market and AIFMD, and it is one I will continue to tell to other markets.
In the morass of negative stories of uncertain outcomes, Jersey has positive, clear and certain messages. These quarterly statistics, the MONEYVAL report, and the ESMA passport recommendation show that we are continuing to lead from the front as an international finance centre for quality business.