The Net Asset Value of funds under administration in Jersey has risen to a new high of nearly £170 billion, with almost half the total figure relating to specialist funds such as private equity, property and hedge funds.
The figures for the third quarter of 2006 compiled by the Jersey Financial Services Commission show that, while the number of banking licences dropped by one during the quarter, following the surrendering of a deposit taking licence by BBVA Privanza (Jersey) Limited, there was still an increase in bank deposits to £187.6 billion. This is a renewed upturn following a decrease in the level of bank deposits in the previous quarter. Beverley Le Cuirot, Director of Marketing, Jersey Finance Limited, said: “The latest figures are encouraging especially at a time of intense competition within a...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
