Trade Arabia – The net asset value of funds under administration on Jersey’s Finance Industry has again risen to a new high of nearly £170 billion ($331.8 billion), with close to half of the totalfigure relating to specialist funds such as private equity, property and hedge funds.
The figures for the third quarter of 2006 are compiled by the island’s regulator, the Jersey Financial Services Commission, according to a senior official.
They also show that, whilst 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.
The headline figures from the JFSC for the June to September 2006 quarter are as follows:
The Net Asset Value (NAV) of funds under administration in Jersey grew by £10.1 billion to £169.8 billion.
