The latest figures collated by the Jersey Financial Services Commission and published by Jersey Finance show the number of Jersey Private Funds (JPF) formed has risen 13% in the first six months of the year.
There are now 456 JPFs registered – up 50 in six months – holding Assets Under Management of £78 billion.
The popular structure, launched in 2017, enables funds with up to 50 sophisticated investors to take advantage of a fast-track authorisation process and lighter ongoing regulatory requirements.
Paul Mundy, Managing Director, Fund Services Division, at Suntera Global, commented:
“These encouraging figures reflect what we’re seeing on the ground at Suntera Global and reinforce the strength of Jersey as a jurisdiction for structuring funds for sophisticated and institutional investors. Increasingly we are seeing the JPF fund appeal amongst small groups of like-minded investors for co-investment and club deal opportunities, in particular family offices.
“Such a flexible and responsive approach in bringing pivotal structures like the JPF to the fore is just one of the reasons why we are looking to build our funds business here, following the granting of our fund administration licence in Jersey earlier this year, and cements our belief that Jersey is the ideal platform for growing our global funds business while retaining the personalised approach we’ve become renowned for.”
The JPF figures were released alongside the latest quarterly statistics for Jersey’s finance industry which reported that the value of total funds business booked in Jersey grew by 15% over the first half of 2021 to stand at a new record level of £436.30bn.