Asset management relocation

At a time of increased regulatory pressures across the globe, Jersey’s finance industry continues to attract quality business and individuals to the Island. Jersey has an appropriate and robust regulatory environment, providing legal certainty for investors and safekeeping of investor assets. The Island authorities are keen to support the growth of alternative asset managers establishing a physical presence with substance in Jersey.

The 26th annual Monterey Jersey Fund Report highlights that fund assets serviced in Jersey rose to US$493.0bn at the end of June 2020, up 2.5% from US$481.2bn in 2019. The number of serviced schemes increased to 1,495, up 11.9% and the total number of sub-funds recorded were also up to 1,981 which represents a 9.6% increase (from 1,336 and 1,807 respectively). To achieve this level of growth, the Channel Islands have built a reputation for high quality knowledge and expertise in the alternative investment market and the islands have become alternative investment centres of excellence. The Jersey and Guernsey investment management industry bodies and regulators work closely together to create legislative frameworks that enable the promoters of offshore structures to meet the evolving needs and demands of investors in a timely manner.

The PwC Channel Islands firm has a team of around 400 staff providing assurance, tax, and advisory services. In both Jersey and Guernsey, PwC continues to retain the leading position as the largest auditor of Jersey/Guernsey serviced funds in 2020, with 34% market share of funds in Jersey and 35% in Guernsey respectively.