Lipper Fitzrovia’s latest research reveals that US$154.2 billion (GBP83.4 billion) in 1,159 funds and subfunds were serviced in Jersey, as at 30 June 2006, an increase of 94% over five years – up from US$79.6 billion (GBP56.6 billion) as at 30 June 2001.
Looking solely at funds domiciled on the Island, the largest asset classes are property/real estate funds (with total net assets of US$43.6 billion, representing over 38% of the total for domiciled funds’ assets) and private equity/venture capital funds (US$26.5 billion – 23% of the total).
Ed Moisson, Director of European Fiduciary Operations at Lipper Fitzrovia, commented, “Jersey’s flourishing fund and servicing industry reflects its continuing attraction as a centre for more specialised fund products, such as private equity and venture capital funds.”
The largest administrator of all funds serviced in Jersey is Mourant International Finance Administration, with US$58 billion assets under administration. State Street (US$11.6 billion) and Ogier Fund Administrators (US$10 billion) are second and third.
The Royal Bank of Scotland International confirms its lead in terms of assets under custody in Jersey, servicing US$22.6 billion assets, ahead of BNP Paribas (US$11.8 billion) and State Street (US$10.7 billion).
Among professional firms, PricewaterhouseCoopers (PwC) is the largest auditor (580 funds), ahead of Ernst & Young (243 funds). Finally, Mourant du Feu & Jeune is the largest legal adviser (624 funds), ahead of Bedell Cristin (472 funds) and Ogier & Le Masurier (435 funds) by number of funds.
Lipper, a wholly-owned subsidiary of Reuters, provides independent insight on global collective investments including mutual funds, retirement funds, hedge funds, fund fees and expenses to the asset management and media communities. Covering over 143,000 share classes and over 75,000 funds domiciled in 59 countries, Lipper is the world’s leading fund research and analysis organisation. It provides the free Lipper Leader ratings for mutual funds registered for sale in 20 countries. Additional information is available at www.lipperweb.com.
Lipper Fitzrovia’s “Jersey Fund Encyclopaedia” has been published annually for each of the past twelve years. Lipper Fitzrovia also continues to produce equivalent annual market share analyses for Dublin, Luxembourg and Guernsey.
Photo credit: flickrtickr2009 via Visual Hunt / CC BY
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