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Jersey to highlight unregulated fund offering at Monaco Fund Event

Posted: 16 June 2008

Fund professionals from Jersey will be highlighting the early interest in its new unregulated fund offering when they attend the Global Alternative Investment Management (GAIM) Forum in Monaco.

Alongside the launch of the new fund category, the number of funds overall that have been set up in Jersey is still showing a marked increase, despite the difficult trading conditions that everyone is experiencing. Figures for the first quarter of 2008 recorded that at least 59 new funds were established.

The number of Expert Funds has increased by a further 18 during the same period and the first unregulated funds, though not included in the statistics, have also been established. The total number of funds stands at 1,370, up from 1,311 in December and 170 more than a year ago.

Richard Thomas, Chairman of the Jersey Funds Association, said: ‘The success of the Expert Fund regime has shown that Expert Funds designed for professional investors can sit alongside other regulatory regimes available in Jersey and that they complement each other. We are confident that the new unregulated offering will continue this trend. It is a logical extension to the existing fast track Expert Fund regime, providing vehicles that will meet a specific market demand.

Since its launch in February, a number of unregulated funds have been formed including a fund investing in solar energy products, another seeking development capital for small and medium sized European businesses involved in renewable energies and a property fund investing in real estate in California.

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