Global professional services provider Suntera Global has bolstered its international funds proposition after being granted a licence to provide fund administration services in Jersey.
Awarded by the Jersey Financial Services Commission (JFSC), the new licence enables Suntera Global to support private equity, real estate, venture capital and other alternative fund managers with a full range of administration services from Jersey, from fund set-up and structuring, through to back-office reporting and accounting, and governance and oversight.
The new licence complements the group’s existing fund administration capabilities through its highly experienced teams in the Cayman Islands , Bahamas and Isle of Man who support the needs of fund managers in a broad range of international markets.
Paul Mundy, Managing Director of Suntera’s Jersey office, and Managing Director of the Fund Services Division, aims to bolster the Jersey funds team over the coming months and has overall responsibility for the growth and development of the firm’s funds offering across all of its jurisdictions.
Paul is a highly experienced funds professional having worked in the finance industry for more than 30 years. He joined Suntera in early 2020 and prior to that was the Managing Director of State Street's Jersey and Guernsey Fund Operations. He has an extensive background in fund administration and global custody, with a focus on staff development, customer relations and risk management, and holds a diploma in Company Direction.
Commenting on the new licence, Group CEO of Suntera Global David Hudson said:
“This new licence is a vital strategic addition to our global proposition as we look to enhance the services we can offer to alternative fund managers across our network. Jersey has a fantastic reputation as a specialist alternative funds centre and I’m confident Paul and his team will build out our Jersey funds operation significantly over the coming months.”
Paul Mundy added:
“We have a good track record in supporting private, listed and authorised funds across a broad spectrum of asset classes, including private equity, venture capital, real estate and infrastructure funds, as well as the emerging areas of ESG and impact investing. Jersey provides us with the perfect platform to continue to grow our global funds capabilities, whilst retaining the boutique-style, personal service for which we have become renowned.”
Figures from the Jersey Financial Services Commission show that in 2020 the value of assets administered by Jersey’s funds industry grew by 9% to stand at £378bn.