Although all sectors of the finance industry continue to grow, say Jersey Finance, it is the funds sector which has shown most increase, with a new record high of £221 billion in funds under administration – up five per cent on the last quarter.
Bank deposits for the three months to 30 September reached ?219.5 billion, which is up 3.7% on the last quarter and up 17% since the same period last year.
The increase in fund business has been evolving over the past two years since the regulation was simplified, and ongoing changes to the rules for funds business, particularly a new ‘unregulated’ funds regime, is
expected to fuel growth still further.
