Jersey Wealth Management Business Grew In Q4
Friday, February 28, 2014
The value of total funds under investment management in Jersey increased to GBP22.2bn (USD37bn) during the fourth quarter of 2013, from GBP21.8bn in the previous quarter, according to statistics compiled by Jersey Financial Services Commission.
The net asset value of funds under administration in Jersey decreased from GBP194.8bn to GBP192.1bn in Q4 2013. The total number of regulated funds decreased from 1,348 to 1,334 and the number of unregulated funds increased from 193 to 197.
The sophisticated end of the funds market performed most strongly at the end of last year, with unregulated funds continuing to grow and private equity and real estate fund values showing slight quarterly increases, according to Jersey Finance, the representative body for the finance industry in Jersey. The value of funds under investment management increased year-on-year by GBP1bn.
Meanwhile, there were 100 Jersey companies listed on stock exchanges worldwide, including 48 on the London Stock Exchange AIM market and 40 on the main market, as well as on Euronext, the Luxembourg Stock Exchange, the Hong Kong Stock Exchange, the Toronto Stock Exchange and the NASDAQ, with a total market capitalization of GBP168.6bn.
Within the banking sector, the final quarter of 2013 saw Jersey deposits decrease by around 3.6 percent to stand at GBP139.9bn. Deposits coming from the Middle and Far East continued to represent around 17 percent of the total value of deposits in Jersey.
There were 635 company incorporations in the third quarter of 2013, resulting in a total of 32,479 live companies on Jersey's company register – a very similar figure to December 2012.