The £5.1bn rise in the net asset value of funds to £200.4bn, helped by a 20% jump in real estate funds, contrasted with the 0.2% fall in banking deposits, from £139.2bn to £138.9bn.
Jersey Finance chief executive Geoff Cook said the increase in funds business was due to the general improvement in market conditions.
“The increase also takes into account a number of new fund launches established in the last few quarters reporting for the first time, while the reduction in the number of regulated funds relates to relinquished certificates for funds which have become inactive,” he said.
He attributed the small drop in bank deposits mainly to the significant strengthening of sterling, which decreased the sterling value of foreign denominated deposits by around £2.2bn.
It was encouraging to see an increase in the number of Jersey companies, “now the highest number of company incorporations since 2008”, he added.
Other statistics collated and prepared by the Jersey Financial Services Commission for the three month period ending 30 June included:
- The total number of regulated collective investment funds decreased by 54 from 1,337 to 1,283.
- Consent was granted in respect of 27 COBO only Private Placement funds since inception with a reported total NAV of £593m.
- The total number of unregulated funds increased by 3 from 199 to 202.
- The value of total funds under investment management decreased slightly by £0.4bn from £22.2bn to £21.8bn.
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The total number of live companies increased by 506 to 33,207.
