Lipper Fitzrovia’s latest research reveals that total net assets of funds serviced in Jersey have risen by 27% during the last year, with the total growing from US$ 107 billion to US$ 136 billion, as of June 20, 2005.
The number of funds and subfunds serviced on the island (both domiciled and non-domiciled) has topped 1,000 for the first time, increasing by more than 30%, Lipper Fitzrovia’s eleventh annual Jersey Fund Encyclopaedia shows.
Looking solely at funds domiciled in Jersey, the largest asset classes are property/real estate funds (with total net assets of US$ 50.8 billion) and private equity/venture capital funds (US$ 15.3 billion).
Significant growth in both of these asset classes reflects Jersey’s continuing attraction as a centre for more specialized fund products.
The largest administrator of all funds serviced on the Island is Mourant International Finance Administration, with US$ 47.3 billion assets under administration. State Street (US$ 11.2 billion) and Ogier Fund Administrators (US$ 10.5 billion) are second and third.
Royal Bank of Scotland International (RBSI) is the new leader in terms of assets under custody in Jersey, servicing US$ 18.4 billion assets, ahead of Royal Bank of Canada (RBC) (US$ 13.9 billion) and BNP Paribas (US$ 13.3 billion).
Among professional firms, PricewaterhouseCoopers (PwC) is the largest auditor (513 funds), ahead of Ernst & Young (174 funds). Finally, Mourant du Feu & Jeune is the largest legal adviser (716 funds), with Bedell Cristin (421 funds) and Ogier & Le Masurier (384 funds) ranking second and third by number of funds.