A message from Joe Moynihan, CEO, Jersey Finance

Thank you for visiting this area of our site. This research follows similar work that we undertook in partnership with Capital Economics from 2013 to 2016, with our ‘Value to..’ series. The findings of these have been of great value in the intervening years in conveying Jersey’s role and contribution on the international financial stage.

We have engaged leading economics consultancy, the Centre for Economics and Business Research (Cebr), to undertake this study on our behalf and we need your help to gather the information that Cebr needs. The aim of Cebr’s research is to understand Jersey’s role within Global Value Chains and, specifically, to provide evidence of the global economic footprint of our financial and professional services. Here at Jersey Finance we will examine that in terms of the socio-economic value to investors, businesses, consumers and governments generally – and communicate this internationally.

We understand the pressures and time constraints that you face. However, we very much hope that you will be able contribute to this important project for Jersey’s financial services industry.

We need your help

We would be very grateful if you or a colleague could complete the appropriate survey below. This will involve you providing financial data, predominantly on funding/asset sources and allocations, by region and sector. We have provided lots of useful information to help you to do this. The closing date for completing your survey is Friday 26th February.

Please note that there are the following options for completing the survey:

  • The survey can be completed online. You will find links to this below. Please note that the password to access the surveys is JFLglobalconduit2021!
  • Alternatively, the survey can be completed in PDF or Excel format. If you do not already have these documents, you can request them via the link below, or by emailing feedback_jf@cebr.com. Please also email your completed responses to the same address.
  • If it is easiest, we can accept responses submitted via multiple platforms (for example if you want to primarily answer on Survey Monkey, but answer more data heavy questions in Excel format).

The survey questions have been designed to be as comprehensive and helpful as possible. If anything is unclear or if you have follow-up questions, please don’t hesitate to get in touch with the team at Cebr. You can find their contact details at the foot of this page.

Sound: Yes | Mute all videos

In this overview video, Cristian Niculescu-Marcu, Director of Analysis at Cebr, provides clarity on the research and an overview of the completion process.

Data Requirements and our Survey Guide

The research phase of the project is focused on understanding the geographical interactions between  Jersey and other regions and relevant blocs, from 2017 to 2020.  In recognition of the different services provided by Jersey based firms, we are undertaking separate surveys for Banking, Funds and Trust and all other Asset Holding Vehicles.  This approach will provide unique sector specific insights, while also allowing for the wider value supported by Jersey to be quantified. However, we are only asking for indicative data, so estimates are acceptable. For the purposes of our modelling, it is always better to have estimates than no data.

From speaking to leaders within Jersey’s finance sector, we have identified that the data which supports this research includes a core set of data that is often captured as part of other business activity. Based on feedback provided, we have produced a Survey Guide, which provides further information on some of the most common areas where businesses capture the data we are seeking to obtain.

This is not a regulatory data submission request. Participation is voluntary. The Jersey Financial Services Commission (JFSC) and the Government of Jersey have not initiated this project. The data collected in this survey will be used by Cebr only, for research purposes. References to any JFSC materials are solely for convenience and ease of reference when responding to the survey. Queries concerning this survey should be directed to JFL and/or Cebr, not to the JFSC.

Prior to completing the survey, we recommend that participants review the survey that aligns to the predominant area of their Jersey-based operations, to understand the data requirements. You can request a PDF or Excel copy of the survey via the link below, or by emailing feedback_jf@cebr.com.

Complete the survey online

Please select the appropriate link below. Please note that the password to access the surveys is  JFLglobalconduit2021!

Survey – Banks

Survey – Funds

Survey – Trusts and all other asset holding vehicles

Request a PDF or Excel copy of the survey

Please click here to request a PDF or Excel copy of the survey.

For Further Support

If you have any questions, please do not hesitate to contact the team at Cebr:

Cristian Niculescu-Marcu Director of Analysis Cebr
cniculescu-marcu@cebr.com

Owen Good Economist, Cebr
ogood@cebr.com

Peter Harber Economist, Cebr
pharber@cebr.com

Confidentiality and Privacy Policy

No personal data will be collected by Cebr in the surveys. All sensitive financial data will be used for internal Cebr modelling purposes only and will not be published except in aggregated form for the final report. The individual responses will be accessible only to Cebr staff and will not be distributed to any third parties, including Jersey Finance.

FAQs
I am not sure which survey to answer?

If your firm is not precisely a fund, bank, or trust company, it may still be relevant to participate in one of the surveys. The sector with the greatest ambiguity is the “Trusts and all other asset holding vehicles” survey. You should participate in this survey if, from Jersey, your entity manages assets of any type on behalf of a principal of any type (for example, a Jersey-based private wealth management firm administering a HNWI’s investment portfolio should answer the Trusts and other AHVs survey). The term “all other asset holding vehicles” is a simplification used to recognise the fact that we are agnostic as to the precise vehicle used by the Jersey entity for the administration of its AUM. If you have any further questions, please contact us at feedback_jf@cebr.com.

Should answers be submitted in Excel, PDF or on SurveyMonkey?

This is up to user discretion and there is no preference from Cebr on which software is used. If it would be easier to provide the requested data in Excel, then this platform should be used with the completed Excel forms sent back to Cebr at feedback_jf@cebr.com. The same applies for the PDF version. Online SurveyMonkey submissions are collected by Cebr automatically.

Why are there multiple response options?

In conversation with industry representatives, it was felt that some of the data could be provided more easily in Excel rather than online and as a result, multiple options were produced for ease of use. The best format to use is the one you feel most confident in using to give the best data.

How should completed surveys be returned?

If the survey has been filled in and submitted exclusively on SurveyMonkey (online), then no more action is required – this data will be collected automatically. If the survey has been filled in using the Excel form or on the PDF, then completed response forms should be sent to feedback_jf@cebr.com.

How are currency conversions calculated?

If you are reporting in a currency other the GBP, we will convert this according to the Bank of England’s exchange rate data as we deem appropriate.

Is there going to be some double counting across the country blocs?

We are anticipating some double counting, but this is not an issue. Throughout the survey, we ask for geographic breakdowns of funds at 3 different levels; by country, by continent, and by bloc. Some of the countries that make up the ‘blocs of interest’ are in more than one, for instance the large overlap between the EU member states and OECD members. For this reason, each column will not necessarily sum to 100%, unless by coincidence.

What and where are the bloc definitions?

We provide a list of the countries that make up each bloc in the Alternative Answer Form (AAF) Excel document as well as before the first bloc question in Section 3. This list will be useful to have at hand when answering such questions. However, the bloc questions can be skipped if a complete country breakdown is provided (see Excel AAF form).

Why the “2019 only” questions?

This is not an error – we only require data points on asset allocation by industry for one year as this is sufficient to provide a rich narrative, especially bearing in mind the size of the ask to submit this data.

Can answers be submitted using more than one form type?

Yes. When responding on more than one format (i.e. some questions answered in Survey Monkey, more data heavy questions answered in Excel Alternative Answer Form), please make a note on each where responses switch to another form.

I do not understand the reasoning behind of one of the questions.

This survey is designed to build a picture of the international flows of assets that are intermediated by Jersey’s financial sectors. All questions have this ultimate goal in mind. If there is a specific question that you would like answered, please get in touch with Cebr at feedback_jf@cebr.com.

What if an exact answer is not possible for one of the questions?

Each question should be answered to the highest level of accuracy; however, we appreciate that perfect accuracy will not always be possible. Therefore, best estimates are still highly valuable data points to have and should be provided. This is not a strict data submission exercise, but a survey conducted for research purposes where the tolerance for errors is slightly greater.

Do the continent and bloc questions need to be answered?

Not necessarily. Throughout the survey, there are geographic breakdown questions that come as a three: disaggregation by country, by continent, and by bloc. If an exhaustive list of relevant countries that your entity engages with is provided in the first of the three geographic questions, then this will provide enough information for Cebr to fill in the next two questions and hence the continent and bloc breakdowns can be left blank. Where this is the case, please make a note in the relevant Additional Notes textboxes.

What if data is not available back to 2017?

Ideally, all the data that is asked for will be attainable, however we understand that it may not be in all cases. Please answer to the best of your abilities.

What data security measures do SurveyMonkey have in place?

For SurveyMonkey’s data security policies, please click on the following links: Data Security Details – https://www.surveymonkey.com/mp/data-security-and-compliance/, Security Statement – https://www.surveymonkey.co.uk/mp/legal/security/, GDPR and CCPA Compliance – https://www.surveymonkey.co.uk/mp/privacy/.

What data security measures do Cebr have in place?

The Cebr privacy and data security policy can be found on the JFL portal. If you have any further questions, please contact us at feedback_jf@cebr.com.

Where can the Excel form and/or the PDF version be accessed?

The Excel and PDF documents were attached to the initial kick-off email received from JFL. If these have been lost, please send an email to the Cebr team at feedback_jf@cebr.com to request a copy.