Official figures published by the Jersey Financial Services Commission also highlighted positive growth in banking deposits, the number of regulated and unregulated funds available and the total number of companies on Jersey’s register.
Banking deposits grew £4.9bn from £161.6bn to £166.5bn representing a 3% increase. The total number of regulated funds grew by 40 and the number of unregulated funds increased by 3 to 125 during the first quarter of 2011. The number of live companies on the register increased by 276 from 32,722 to 32,998.
There was slight reduction in the value of funds under investment management with assets falling 0.2% from £21.4bn to £21.3bn.
Geoff Cook, chief executive of Jersey Finance, said the increase in regulated funds in Jersey highlighted strengthened confidence in the jurisdiction.
“The fact that the total number of regulated funds increased by 40 – the largest increase in funds for the first quarter of any year since 2008- is significant too, reflecting a rise in new fund launches and demonstrating added confidence in our funds sector at the beginning of the calendar year,” he said.