Both funds were previously incorporated in Bermuda.
The Liberty Ermitage Asset Selection Fund brings assets under management of US$730 million – the firm’s flagship product – and Liberty Ermitage Gold & Resources Fund has assets under management of £30 million.
The move has been heralded as a significant confidence boost to the Island’s burgeoning hedge fund sector, which tomorrow is hosting a seminar designed to attract the London market.
John Harris, director of international finance at the States Policy and Resources Department, said: ‘This is further good news for the expansion of the funds sector in Jersey, which the States has been keen to encourage through regulatory changes and the Economic Development Committee’s emphasis on attracting more hedge fund activity to the Island.
Liberty Ermitage’s strong profile in this sector of the market and its continuing commitment to the Island represent a very welcome and influential statement on their part and thus very positive news for Jersey.
Liberty Ermitage chief executive Ian Cadby said: ‘Jersey has always been the preferred location for our headquarters and over the past few years we have developed a high-calibre investment team in the Island.
Switching these funds from other offshore domiciles to Jersey demonstrates our commitment to the Island and our confidence in the expert funds regime now in place.
