115 AIFMs have been authorised by the Jersey Financial Services Commission (JFSC) to market funds in Europe through national private placement regimes under the Alternative Investment Fund Managers Directive (AIFMD), a rise of 11% on the December 2015 figures. The JFSC also confirmed that 251 Jersey alternative investment funds were being marketed in Europe, a 9% rise. The value of Jersey’s investment funds sector rose to its second highest since 2008 with significant increases in the private equity and real estate sectors.

The release of these figures follows the publication of advice by the European Securities and Markets Authority (ESMA) to the European Commission confirming that there are no obstacles to Jersey AIFMs obtaining a passport to market their funds into Europe. The advice reiterated ESMA’s opinion expressed in July 2015 that there were no obstacles regarding investor protection, market disruption, competition and the monitoring of systemic risk in the Channel Islands impeding the application of the passport in Jersey or Guernsey. The advice also provided ESMA’s positive assessment of the capacity of the JFSC (in Jersey) and the Guernsey Financial Services Commission (in Guernsey) and their track record in ensuring effective enforcement and the expected inflows of funds by type and size into the EU from either of the Channel Islands.

In addition to Jersey and Guernsey, ESMA also gave positive assessments of the extension of the AIFMD passport to Canada, Japan and Switzerland.

Twitter LinkedIn Email Save as PDF
More Publications
22 Sep 2021 |

Minute Writing Training

Trustees are under a statutory duty to keep accurate records of their trusteeship, but what does tha...

2 Sep 2021 |

Duties of Trustees

The relationship of trustees to beneficiaries is viewed as fiduciary, meaning there are certain equi...

18 Aug 2021 |

Beneficial Owners and Controllers (BOC)

The aim of BOC is to drill-down to the identification of persons who are the beneficial owners and c...

30 Jul 2021 |

Fighting international fraud

First published in New Law Journal, July 2021. Appleby partners Anthony William and Jared Dann an...

Contributors: Jared Dann, Claire Corkish
27 Jul 2021 |

Fund Finance Update – Will Jersey’s new sustainable investment disclosure requirements aid ESG financing?

This article provides an overview of ESG, the hot topic of 2020 that is carrying on full steam throu...

Contributors: Daniel Healy
22 Jul 2021 |

Listing Variable Funding Notes (VFNs) on The International Stock Exchange

This article provides a summary of Appleby listing agent services in the Channel Islands, and also o...

1 Jul 2021 |

Saunders v Vautier where the beneficial class is not closed - the debate goes on...

The rule in Saunders v Vautier is familiar territory for trust lawyers.  In the modern world it is ...

17 Jun 2021 |

Solvency Statements under Companies (Jersey) Law 1991 - Is it time to go paperless?

In April of this year, the Royal Court of Jersey considered the practicalities around the making of ...

Contributors: Kevin McQuillan
11 Jun 2021 |

“Offshore intelligence – Funds in demand” Appleby Podcast

We have recently produced a podcast focused on the Funds industry entitled “Offshore Intelligence ...

2 Jun 2021 |

Why use Jersey entities in restructurings?

As the extension of various forbearance measures and fiscal support packages continues in response t...

Contributors: Gemma Whale, Andrew Weaver