Recent data from the Jersey Financial Services Commission (JFSC) shows that the number of fund managers choosing to market their funds into the EU through Jersey using national private placement regimes (NPPR) is continuing to rise.
As at 30 June 2021, there were 198 Jersey-registered alternative managers (AIFMs) marketing their funds into the EU through private placement — a 3% rise on the figure from the same time last year.
In addition, the number of Jersey-registered funds (AIFs) marketing into the EU through NPPR also increased to stand at 342, representing a 3% rise since June 2020.
Commenting on the figures, Elliot Refson, Head of Funds, Jersey Finance, said:
“The message is clear — in this post Brexit environment, non-EU managers are still finding appeal in the private placement option Jersey provides in enabling them to access vital EU capital. It’s a tried and tested, familiar, robust and highly cost-effective route, and this is reflected in the steady increase we continue to see in the figures.
“Activity is stemming from UK managers who are now outside of the EU bloc but are continuing to market to EU investors, but we are also seeing an uptick amongst US managers, for whom we are hearing increasingly that private placement is a far more appealing and effective proposition than full onshore European AIFMD compliance, and we anticipate further growth in this area over the coming months.”
According to the latest figures, Jersey currently administers £436.3bn of fund assets, as at June 2021.
The full set of quarterly statistics is available here.