According to the independent Monterey Fund Report 2017, Mourant Ozannes has once again maintained its leading position as the go-to legal adviser in Jersey's funds industry, advising on over 54% of all funds by market share of assets.

The report also highlighted significant market growth for the funds industry in Jersey, with fund assets serviced in Jersey up 14.7% from 2016.

Mourant Ozannes' dedicated investment funds team, the largest in Jersey, advises on a total of 790 funds with an overall value of US$330bn, nearly triple the value of funds advised by its nearest competitor. This figure does not include CVC Fund VII, which closed at €15.5 billion and was the largest ever fundraising by a European private equity firm was the largest ever fundraising by a European private equity firm.

The firm leads the tables across all major categories, including largest legal advisers by total number of funds (see notes to Editors) and is the leading legal adviser to new funds launched – advising on nearly twice that of its nearest competitor.

Funds Partner, Felicia de Laat, said: "The growth highlighted by this year's report demonstrates that as the global economic and regulatory landscape continues to change, Jersey's funds industry is able to not just adapt quickly to market volatility, but also to thrive.

"We regularly work with many of the biggest players in the global funds market, which is a strong vote of confidence in Jersey as a leading jurisdiction of choice and also in our expert team which, according to the data, has maintained its unrivalled lead position for 18 consecutive years.

"In the last 12 months we've been instructed on a strong flow of significant new fund launches, including all of the first five funds regulated as Jersey Private Funds when the new regime came into effect in April, and a steady stream thereafter."

The firm this year appointed Partner Alistair Horn, bringing the team to a total of seven specialist funds partners and 19 lawyers in Jersey. Globally, Mourant Ozannes boasts over 70 lawyers working on investment funds.

"Having a large, expert team with a collegiate ethos positions us with an ability to manage such significant projects, providing the excellent levels of service, coupled with deep regulatory and market insight, that our clients tell us truly sets us apart.

"This year's Monterey report once again reinforces the significance of Jersey's fund industry to the island's financial services sector as a whole, and as the leading legal adviser to this market, we're very proud to continue to contribute to its success."

The report follows the recent publication of the IFLR1000 and Legal 500 UK where Mourant Ozannes was awarded top tier status for investment funds advice across both directories. Clients praised Mourant Ozannes as 'the best funds firm in Jersey', which is 'particularly strong in client service, backed up by a wealth of experience and knowledge in the local regulatory regime’.

Monterey Insight is a leading independent fund industry research company that provides the only comprehensive survey of service providers for all investment funds serviced in Luxembourg, Ireland, Jersey and Guernsey. The company's research covers around 25,000 investment funds within these jurisdictions.

Link Group (ASX: LNK) has completed its acquisition of London headquartered Capita Asset Services (CAS) from Capita plc.

The acquisition of Capita Asset Services is a strong strategic fit and is in line with Link Group’s strategy to grow through further penetration of attractive markets and expand its product and regional capabilities and in particular extending the European operating platform.

Link Group is a market-leading provider of technology-enabled solutions in financial and corporate markets.  The company is listed on the Australian Securities Exchange with a market capitalisation of approximately AUD $4billion and is included in the S&P/ASX100.

Following the acquisition of CAS, Link Group now operates  in  17 jurisdictions worldwide, has annual revenue of over £750m* and employs more than 7000 industry specialists. Globally, it has more than £600bn of assets under administration, services 35 million individual shareholders and manages 45 million financial records.

Link Group Managing Director, John McMurtrie, said: “In CAS, we have acquired a business with leading market positions across its fund, corporate and private client, shareholder and banking and debt service lines.  The business has longstanding customer relationships and strong regulatory credentials, operating in growth markets.  The business, renamed as Link Asset Services, is highly complementary to Link Group and represents an attractive platform for further expansion in the UK and European markets.”

Anthony O’Keeffe, CEO of Link Group’s new Link Asset Services division commented: “We are delighted to be part of Link Group, a forward-thinking company committed to delivering enhanced client value through ongoing investment in technology, people and processes.  This, coupled with new complementary and supplementary capabilities and a broader international reach, puts us in an excellent position to continue to develop our strong partnerships with our existing and new clients.”

Mr McMurtrie added: “With this acquisition, Link Group is now a truly international company with expanded opportunities for further growth. We are genuinely excited by the opportunities for the expanded Link Group, our new clients and new colleagues.”

* Combined revenue of Link Group and CAS for 12 months ending 30 June 2017 -ends-

Link Asset Services works in partnership internationally with almost 7,000 clients including asset managers and investors, business managers, asset owners, trustees, issuers and borrowers.   We provide the infrastructure through which assets are secured or deployed in both regulated and unregulated markets.  The 3,000+ staff of Link Asset Services deliver more than 70 closely aligned services and help capital flow through the financial markets by processing £45bn of payments annually; as well as protecting and safeguarding more than £600bn held in funds, entities and other instruments.

Link Asset Services administers and safeguards assets across ten highly-regulated European jurisdictions.  We work with a broad range of market segments, industries and asset classes, including equities, bonds and debt, and real assets.  We work closely with regulators, industry bodies and market intermediaries.  Our clients often procure multiple services from us and our approach and execution success has enabled us to build market leading positions across all of our business lines:

• Link Market Services (share registration, investor relations, share investment services and treasury)

• Link Fund Solutions (AIFM, fund administration, transfer agency, ISA plan management)

• Corporate Services (finance and accounting, company secretarial, entity management, outsourcing services)

• Private clients (trust and company services, including inter-generational transfers)

• Banking and Credit Management, through the Asset Services brand provides loan origination and servicing, debt work-out, compliance and regulatory oversight.

About Link Group (ASX: LNK)

Link Administration Holdings (Link Group) administers financial ownership data and drives user engagement through technology.  Underpinned by its investment in technology, people and processes, it delivers comprehensive data and information solutions for companies, large asset owners and trustees across the globe.

For more information, please visit: www.linkgroup.com

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Carey Olsen has been ranked as the leading law firm in the Channel Islands by Legal 500 UK with a top-tier position across all 17 of its practice areas, making it the only offshore law firm to have tier one status across the board.

The Legal 500 UK is a key industry report that grades law firms following a thorough and independent research process, which includes interviews with clients and peers as well as information provided by the firms themselves.

The new edition has ranked Carey Olsen in tier one for all eight practice areas in Guernsey, all eight in Jersey and for its offshore London practice, sealing its position as the leading offshore law firm in the Channel Islands.

26 of the firm’s lawyers feature in the elite list of ‘Leading Individuals’ and 64 are recommended in the editorial. The publication includes positive endorsements from Carey Olsen’s clients across all service areas. Praise for its lawyers includes that they are “super responsive and ready to collaborate” and having “a one-firm approach”.

Group managing partner, Alex Ohlsson, said: “Carey Olsen has been positioned at the top of the Legal 500 UK tables for many years but to have achieved a clean sweep of tier one rankings is a fantastic endorsement. We thank our clients for providing outstanding feedback and our staff for their commitment and hard work.

“The rankings reflect our ability to deliver an excellent client service and, following on from our recent win as ‘Offshore Firm of The Year’ at The Lawyer Awards, re-affirm our position as a leading player in the offshore legal market.”

The number of alternative fund managers marketing into Europe through Jersey’s national private placement regimes (NPPRs) continued to rise during the first half of 2017 whilst there has been a strong uptake in the latest addition to Jersey’s regulatory regime, according to mid-year figures from Jersey’s regulator the Jersey Financial Services Commission (JFSC).

As at 30 June 2017, 131 alternative investment fund managers (AIFMs) had been authorised in Jersey to market into Europe through NPPRs under the Alternative Investment Fund Managers Directive (AIFMD), up 14% compared to the same time last year.

In addition, the total number of Jersey alternative investment funds (AIFs) being marketed into Europe through NPPRs also increased to stand at 276, representing a 10% year-on-year increase.

Meanwhile, the JFSC has also reported a strong uptake in the Jersey Private Fund (JPF) regime, the latest addition to Jersey’s suite of fund structuring options, which was launched in April. As at 31 August 2017, there were 44 JPFs, with the majority being newly created fund vehicles with just under a fifth being conversions from existing structures.

The JPF was introduced earlier this year to provide sophisticated investors with a more streamlined and fast-track regime, under which funds for up to 50 investors could be established in as little as 48 hours.

Geoff Cook, CEO Jersey Finance, believes the figures show that private placement continues to give fund managers a good option for marketing funds into the EU:

“The clear indication is that, although there is a lot of talk about AIFMD passporting, private placement is giving non-EU fund managers a really reliable, straightforward and efficient route for marketing alternative funds into Europe. It’s stable, it’s cost-effective and it’s tried and tested and, against a complex geopolitical backdrop in Europe, that’s a really attractive proposition for fund managers right across the private equity, real estate, hedge and infrastructure fund asset classes.”

Meanwhile, commenting on the strong uptake in Jersey’s new JPF vehicle, Mike Byrne, Chairman, Jersey Funds Association, added:
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“In the four months since the JPF was brought to market, this is a really encouraging initial uptake, and it’s particularly pleasing that more than 80% of JPFs are brand new funds. At the outset, we felt that there was real demand for this type of structure amongst institutional and professional investors across the alternative asset classes, and the figures support this view. In addition, we have also seen a positive reaction from family offices, who are using the new regime for co-investment purposes and to pool investments from multiple families.”

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Dr. Paul Dentskevich has joined Crestbridge in Jersey as Risk Director, Jersey Management Company, in a move that boosts Crestbridge’s position as a leading provider of on and off balance sheet Management Company (ManCo) services to the international funds market.

Paul has over 28 years of financial services experience, with particular focus in the area of risk management, investment management and corporate governance of hedge and other multi-asset funds.  He has extensive boardroom experience across a diverse range of structures and, in his previous role as Senior Risk Manager, was Director on a number of subsidiary companies within Brevan Howard.

Commenting on his new role, Paul said: “I am delighted to team up with such a dynamic and well supported group at a time when the market is in great need of effective ManCo solutions.”

Director, Elliot Refson added: “I’m delighted to welcome Paul to Crestbridge. His deep risk management expertise and market knowledge will be a huge asset to the business. Crestbridge offers a variety of insourced and outsourced ManCo solutions to support managers looking to take advantage of the benefits of a Jersey presence. Crestbridge is able to offer a ManCo covering all asset classes, with real substance provided by experts with direct market and industry experience, supported by a strong fund administration team experienced in a broad range of alternative fund types.”

Crestbridge became one of the first firms in Jersey to be granted a licence by the Jersey Financial Services Commission (JFSC) to offer a ManCo platform, whilst it was also one of the first to establish a third party ManCo in Luxembourg covering both UCITS and AIFMD funds five years ago.

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Over recent months, there have been numerous articles speculating on how Brexit might unfold. Whilst the UK government’s White Paper set out their ambitions for Brexit, the reality is that we do not know what the eventual position will be. So what do we know and how can Jersey help London based Alternative Investment Fund Managers future-proof their fund structures?

“There are known knowns; these are things we know we know. There are known unknowns; that is to say we know there are some things we do not know. But there are also unknown unknowns – the ones we don't know we don't know….” (Donald Rumsfeld 2002)

We do know:

• That in the referendum over a year ago the UK electorate voted to leave the EU
• The triggering of Article 50 earlier this year has opened a two year window to negotiate the withdrawal
• The negotiating period has now formally started
• If no agreement is reached within two years, and no extension has been agreed then Brexit occurs with the UK leaving the EU and all EU treaties, with no replacement regime in place
• For a negotiated agreement to be reached it will need to be adopted by a qualified majority of 20 of the remaining 27 member states representing 65% of the total EU population and also approved by the European Parliament which has the right to veto both any agreement and any extension of the negotiation period
• We also know that if no agreement is reached the free movement of goods, services, people and capital will be severely impacted

In the alternative investment arena, aside from any impact on the availability of talent in London as a result of restrictions to freedom of movement, the key impact of Brexit as the UK becomes a third country will be the loss of the EU marketing passport for both Alternative Investment Fund Managers (AIFMs). This means the loss of the right to freely market funds across the member states of the EU.

What is equally certain is that whatever form Brexit takes - including the much touted “equivalence” route where companies from countries that are deemed to have equivalent regulatory standards are permitted to trade freely across borders - it will result in a period during which UK managers will not be able to directly access investors across the EU and possibly EU managers will also lose access to UK investors.

This is because of the two stage process required. Firstly any agreement will be subject to a technical review by the European Securities and Markets Authority (ESMA), which is under-resourced and therefore slow. ESMA’s advice will then be considered by the EU Parliament, Commission and Council which must reach a political decision acceptable to all three bodies. Further, EU Member States may have a limited appetite for an amicable agreement with the UK, due to a desire not to leave the UK in a better position post-Brexit than it was as a Member State. The issue of the loss of the passport and access to EU investors is the key point to address.

For some larger managers, opening an office within the EU to preserve access to the passport may be an answer. However, this is a costly option particularly for smaller managers. In addition, Preqin statistics indicate that the majority of UK managers only market into one or two EU countries, so if the fund’s target investors are in countries that have an accommodative private placement regime (NPPR), doing this through Jersey will be a better solution.

Globally 20% of investment in hedge funds is from European investors, of which almost three quarters is from the UK, The Netherlands and Switzerland (ex EU). For managers seeking to distribute into the EU, a Jersey-based manager can use NPPR to access almost all of the European Investor base. NPPR is guaranteed into the UK and The Netherlands has a very low barrier to entry for Jersey based Managers (Switzerland has its own marketing regime).

As at 31st December 2016 there were 127 Alternative Investment Fund Promoters marketing 254 funds in this way (this figure reported bi-annually has grown with every release since 2014). Jersey’s efficient and world-respected regulatory regime coupled with its ability to offer funds to investors outside of the scope of AIFMD, and therefore without the need for a depository, capitalisation and other associated costs, can result in higher investor returns in a more attractive and certain tax environment.

Despite the uncertainty around Brexit, UK alternative fund managers can rely on Jersey’s cost-effective and future-proof solution.

Mourant Ozannes, working alongside lead counsel Simpson Thacher & Bartlett LLP, has advised CVC Capital Partners, one of the world's leading private equity and investment advisory firms, on the launch of its seventh flagship fund for private equity investment in Europe and North America, CVC Capital Partners VII.  The fund closed with a hard cap of approximately €15.5 billion (the largest ever fundraising by a European private equity firm) and received commitments from over 300 investors based primarily in North America, Europe, Asia and the Middle East.

Mourant Ozannes L.P. partner, Felicia de Laat said "We were delighted to assist with the establishment of CVC Capital Partners VII, the largest ever buyout fund raised by a European fund manager.  The sheer size of the fund and the number of investors demonstrates the depth of our funds team to manage such a significant project and we are proud to be one of the advisers involved with its successful launch."

The Mourant Ozannes team was led by Felicia de Laat and senior associates Rachel Fowler and Matt McManus with assistance from colleagues in the funds, finance and corporate and other teams.

The value of funds being administered in Jersey rose to a record level at the end of 2016, the latest figures to be published by the jurisdiction’s financial regulator have shown.

In the final quarter of 2016, the total value of funds being serviced through Jersey rose by 15% over the year to stand at £260bn (US$335bn), the highest value ever recorded. This growth was driven by the alternative asset classes, which increased annually by the same proportion to £189.2bn (US$243.8bn), representing almost three quarters (73%) of Jersey’s total funds activity.

Within the alternative asset classes, private equity fund values performed particularly strongly, rising by almost a third year-on-year (30%) to stand at £59.7bn (US$77bn), whilst there was a significant jump in the combined total of ‘specialist’ funds, including infrastructure, credit and debt funds (48%). Real estate fund values also rose by 7% during the course of the year, whilst hedge fund values remained steady, ending the year at £52.4bn (US$67.5bn).

Commenting on the figures, Jersey Finance CEO Geoff Cook said: “These are clearly very encouraging figure for 2016, and support the view that, in an uncertain market, Jersey is an attractive, stable and effective platform for alternative fund managers. We are a well-governed, risk-averse, outward-looking jurisdiction with ongoing European market access and strong links to the UK, and all that is proving an attractive proposition for managers and investors looking for stability and certainty.”

Mike Byrne, Chairman of the Jersey Funds Association added: “It’s a powerful global endorsement of Jersey that some of the highest value funds in the world are deciding to launch in Jersey and a number of new promoters are now using Jersey for the first time. Moreover, current trends indicate that asset managers are set to substantially increase their allocation in alternatives over the coming months, which puts our buoyant funds industry in a very strong place indeed.

“We’re not complacent though, which is why we’re continuing to focus on innovation within our funds regime. The launch in March of our new fast-track Jersey Private Fund is an example of that, and we are already seeing strong interest in that as a vehicle for institutional and high net worth investors to bring highly targeted and timely funds to market.”

Global trends to increase allocations to alternative assets should give managers confidence in the future of Jersey’s funds industry, according to the chairman of the Jersey Funds Association (JFA).

Speaking at this year’s annual JFA Dinner (21st April) held at the Royal Jersey Showground, Mike Byrne told an audience of over 400 funds professionals, senior politicians and regulatory representatives that moves amongst institutional investors were having a positive impact on the performance of Jersey’s funds industry, with figures for the end of 2016 indicating that the total net asset value of funds under administration in Jersey stood at £260bn, up 15% year-on-year.

Pointing to rising levels of business across the well-established hedge, real estate and private equity asset classes, but also significant growth in emerging areas including debt, credit and infrastructure funds, Mike commented:

“It’s clear that global allocation to alternatives continues to increase, from pension funds, sovereign wealth funds and institutional investors. Figures from Preqin for the first half of 2017, for instance, show that 57% of investors are expected to allocate more to private debt in the coming year, whilst 40% will increase more to private equity, 38% to infrastructure and 24% to real estate funds.

“All four asset classes form the bedrock of Jersey’s funds industry which, against this backdrop, looks in excellent health with levels now at their highest in five years. Jersey’s focus on alternative investment funds has created a very stable platform of long-term capital that is largely insulated from short term market sentiment.”

Meanwhile, Mike highlighted that activity levels across Jersey’s funds community have been very high over the last year with both existing and new funds:

“The fact that a number of new promoters are now using the jurisdiction for the first time is brilliant news, whilst to have some of the highest value funds in the world launching in Jersey is a very powerful global endorsement of the quality of the jurisdiction and its people.”

Looking at the year ahead, Mike suggested that market developments and a sustained focus on regulatory enhancements could present Jersey with some opportunities:

“In light of Brexit, third-country AIFMD passporting has become a political rather than a regulatory issue, which is disappointing, but doubling down on our tried and tested National Private Placement Regime (NPPR) as well as Reverse Solicitation has proven an effective distribution strategy for the types of funds we look after in Jersey. In fact, the uptick we have seen in NPPR is evidence of it being a genuinely attractive alternative to full AIFMD compliance.

“Our continued focus on enhancing our funds regime, meanwhile, is vital, and the reaction to the introduction in March this year of the Jersey Private Funds Regime has been extremely positive, with a strong pipeline of applications already received. The challenge going forward is to ensure we retain the optimum balance between compliance on the one hand and being business-friendly on the other. Competition is ever increasing, as is the level of sophistication of financial criminals, and getting this balance right is key to the continued success of Jersey as a high-quality specialist funds centre.”

The JFA Annual Dinner helped raise in excess of £5,000 for the JFA’s nominated charity, Mind Jersey, and featured comedian Henning Wehn, well known for his appearances on Have I Got News For You, Would I Lie to You, 8 out of 10 Cats and QI, as guest speaker. Lead sponsor for the evening was Mourant Ozannes and Silver sponsors were BNP Paribas Securities Services, Moore, Ogier & PwC, whilst the champagne reception was sponsored by Carey Olsen

Details around Jersey's newly-launched fund framework were welcomed by UK fund practitioners at the Jersey Finance Annual Funds Conference in London last week.

At the half-day event on Tuesday (21 March), which attracted almost 400 fund professionals, the new Jersey Private Fund regime was highlighted as one of the innovations giving the industry optimism in the future of the sector, despite the uncertainties posed by Brexit. Experts from London and Jersey welcomed the more streamlined and fast-track regime, under which funds for up to 50 investors could be established in 48 hours.

Opening the conference, Geoff Cook, CEO, Jersey Finance, flagged research by Preqin which showed that asset managers are forecasting substantial increases in their allocation in alternatives, a further positive sign for Jersey, including 62% to private debt, 53% to infrastructure and 48% to private equity (Preqin Investor Outlook: Alternative Assets H1 2017).

He said: “We are well placed to benefit from the current uncertainties in the markets. Our market access arrangements with Europe continue, we are a sound, well governed, risk averse jurisdiction with enduring commercial links to London, which will appeal to international investors looking for stability and certainty.”

Later, Tim Morgan, Vice Chairman, Jersey Funds Association, reported that deal flows across all asset classes were positive and that there was further opportunity to build business based on the huge asset management capabilities of London and the structuring expertise in Jersey. Mr Morgan spoke on a panel which considered the impact of Brexit and regulation such as BEPS, with John Maxey, Tax Partner, Deloitte; Deborah Lloyd, Chairman, The Association of Real Estate Funds; and Mike Jones, Director, Policy, Jersey Financial Services Commission.

Conference panelists also highlighted the importance of the symbiotic relationship that endures between Jersey and London. Jonathan Pugh-Smith, legal counsel, Bregal Investments LLP; James Duffield, Director, Aztec Group; Robert Mellor, UK Asset Management Tax Partner, PwC; and Jane Pearce, Managing Director, Vistra, all agreed that the relationship would be unaffected by Brexit.
The conference, at 8 Northumberland Avenue, also included a keynote address on the political landscape from the leading political journalist Nick Robinson, who also moderated the conference panel sessions, and a presentation from Tim Harford, behavioral economist, journalist and broadcaster.

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Jersey’s competitiveness as a jurisdiction in which to establish funds has been enhanced with the introduction of a new regulatory framework for private funds.

The Jersey Private Fund, which has been announced by the Jersey Financial Services Commission today (Wednesday 15 March), consolidates and streamlines Jersey’s private fund offering and will enable funds with up to 50 investors to take advantage of a fast-track authorisation process and lighter ongoing regulatory requirements.

It provides a more flexible and versatile framework which will further improve the speed and ease with which funds marketed to professional investors can be established. The framework ensures continued compliance with international standards by requiring the appointment of a Jersey-based administrator.

Geoff Cook, CEO, Jersey Finance, said: "Jersey’s funds industry has shown strong growth over the past five years, and the new regime positions us for continued growth. Our industry is built on speed to market and expertise combined with appropriate regulatory oversight, and by offering a 48-hour authorisation for funds with up to 50 investors, this product will further cement our position as a market leader."

The Jersey Private Fund will also be available to managers seeking to market funds into Europe through National Private Placement Regimes. This is a route which has been a strong growth area for Jersey's funds industry and there are now more than 250 alternative investment funds and 115 authorised alternative investment fund managers marketing into the EU via Jersey.

The Jersey Private Fund regime will operate alongside existing regulatory frameworks which collectively will meet the requirements of all managers and investors.

Mike Byrne, Chair of Jersey Funds Association, said: “As a forward-thinking jurisdiction providing bespoke alternative fund solutions, we recognise that we need to continue to innovate and enhance our funds environment to set us apart from other jurisdictions. The new Jersey Private Fund is an example of that and comes following significant engagement between industry, regulator and government, aimed at making our overall funds offering clearer and simpler whilst at the same time giving fund managers and investors greater choice. We anticipate the regime will find real appeal amongst our institutional and professional investor client base, right across the private equity, real estate, infrastructure and debt and credit fund asset classes.”

A director of a fund which is said to be the largest in the world will be speaking at Jersey Finance’s annual funds conference in London on Tuesday 21 March 2017.

With up to US$100 billion to invest in the global technology sector over the next five years, the Softbank Vision Fund is regarded as the world’s largest fund. At the Jersey Finance event Jonathan Bullock, a director of the fund and the International COO and Managing Director, Operations, for SoftBank Group International, will set out how SoftBank see those investments transforming the technology sector.

Joining Mr Bullock at the event will be broadcaster Nick Robinson and behavioural economist Tim Harford, the award-winning Financial Times columnist.

Geoff Cook, CEO, Jersey Finance, said: “Our funds conference is a flagship event for us, enabling us to promote Jersey as a centre of excellence. The leading members of London’s funds industry attend each year because we attract such high-calibre speakers to discuss the key contemporary issues, and I am delighted that this will continue in 2017.”

Before joining SoftBank, Mr Bullock had a long tenure at Google, as a Global Strategy Director and Chief of Staff of Global Business Organization. In these roles, he helped drive strategic planning and transformational initiatives for the firm, which had more than 25,000 employees and US$65 billion in revenue. Prior to Google, he held strategy management roles working with NewsCorp, Thomson Reuters, Gemini Consulting and a number of other Fortune 500 firms.

Mr Bullock holds MA and MEng degrees in Engineering from Cambridge University and is a board director for several companies, including Yahoo! Japan and Brightstar.

The half-day conference, which has been run since 2001, is being held at the award-winning 8 Northumberland Avenue and will also include a networking lunch, afternoon tea, and post-conference drinks.

Find out more about New Perspectives, the Jersey Finance Annual Funds Conference 2017.

The White Paper published last week by the UK Government includes some encouraging pointers for the Brexit negotiations that are to come and the position of the Crown Dependencies.
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In particular the fact that the Secretary of State for Exiting the EU, David Davis, MP, when presenting the White Paper to Parliament, indicated that the interests of the Crown Dependencies are to be taken into account in the negotiations was welcome confirmation that the UK appreciate our unique constitutional position. It was further encouraging to note the commitment from UK ministers to meet with our ministers regularly in the months to come.

Whilst no one can safely predict the final outcome of the Brexit negotiations, Jersey’s finance industry remains well positioned and we have reason to be confident about our future prospects. We are of course already outside of the EU and retain market access into Member States for our financial services as a result of directly negotiated agreements, including the National Private Placement Regimes for the funds sector. The decision to exit Europe also has no effect whatsoever on our constitutional relationship with the UK and we will continue to work closely with the City of London, which remains our most important partner in financial services.

While there is inevitably some uncertainty as the EU and UK get ready to grapple with the tough negotiations that lie ahead, from our perspective, Jersey’s stability, when coupled with its robust regulatory regime and strong rule of law, are features that are likely to appear increasingly attractive to investors. At present, and despite  the uncertainties surrounding Brexit, we are continuing to record increasing flows of business in private wealth, funds and capital markets and there exists a general flight to quality, a trend where we have consistently benefited.

We will continue to support our Government in its efforts to consult fully with Westminster in the process and for our part, we are continuing to engage with stakeholders and gatekeepers in our key markets to bring clarity about the position of Jersey and the enduring appeal of our offering in a post Brexit world.