Almost half of the £170bn funds under administration in Jersey relate to specialist funds, according to recent findings.
The quarterly figures released by the Jersey Financial Services Commission reveal in the third quarter of 2006, the Net Asset Value (NAV) of funds in Jersey grew by £10.1bn to £169.8bn. Of these almost £82bn is invested in specialist funds such as private equity, property and hedge funds, while over the last three months an additional 21 expert funds have been authorised by the Island, bringing the total to 235. And as a result the figures reveal the NAV of expert funds grew by £3.7bn to £25.3bn over the last quarter, while the overall total bank deposits on the Island increased by £3.9...
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