In what seems to be good news for the finance industry, the number of regulated funds returned to levels not seen for three years. And Jersey appears to be being used as a ‘safe harbour’ by investors concerned about the economic climate.
Figures issued this week showed that the Island’s funds offering continues to be popular. There was a 3.5% rise in the net asset value of funds under administration in the first three months of 2012, which were up by £6.8 billion from £189.4 billion to £196.2 billion.
In addition, the total number of funds registered at 1,578 was up by 33 on the previous quarter. The number of regulated funds hit their highest levels since 2009 to stand at 1.412, which was up by 20 as compared to three months earlier.
Jersey Finance chief executive Geoff Cook said that there was no doubt that 2012 would be a decisive year for the financial services sector.
He said that market participants were preparing for the worst with the Eurozone crisis taking on worrying proportions and economic uncertainty continuing to have a negative impact on growth.
