The latest statistics provided on Jersey’s Finance Industry show that the Net Asset Value of funds under administration and the total level of bank deposits have reached further record levels, with each approaching the 200 billion milestone as of 31st March.
The figures for the first quarter of 2007 are compiled by the Island’s regulator, the Jersey Financial Services Commission (JFSC), and indicate a general upswing in growth across the Finance Industry, with the funds and banking sectors performing particularly strongly yet again.
Compared to the previous quarter, bank deposits have increased by 4.7 percent overall to 198.6 billion, the highest recorded figure to date, and the Net Asset Value of Funds under administration increased by 8.6 percent to 194.5 billion.
“These latest figures show that the Island continues to enjoy the confidence of international investors and advisors around the globe,” says Geoff Cook, Chief Executive of Jersey Finance Limited. “Jersey has also recently won the prestigious award for ‘top international finance centre’ at International Investment’s Fund and Product Awards 2007 in London, which is further recognition of Jersey’s position as a leading international finance centre.”