WEST PALM BEACH, FL (HEDGECO.NET) – The hedge fund Industry in Jersey is witnessing significant growth, according to a study by Fitzrovia International. The new research shows that the Jersey hedgefund industry grew by double digit numbers during 2003 by rising from 736 hedge funds to 839, representing growth rate of 13.7%. The total assets managed in Jersey grew from US$102.7 billion to US$107.0 billion according to Fitzrovia�s data.
According to the research, �looking solely at funds domiciled in Jersey, the increase in total net assets is a more impressive 24.9% (from US$ 62.6 billion to US$ 78.2 billion and by number of funds it is 16.6% (638 to 744 funds).�
The study also showed that �Jersey’s position as a centre for more specialized funds is also highlighted with the second largest asset class being private equity/venture capital funds, with assets of US$ 14.3 billion.�
Mourant International Finance Administration is the largest administrator of all funds serviced on the Island, overseeing total assets of US$ 30.9 billion. The second and third positions go to State Street (US$ 14.0 billion) and the Royal Bank of Canada (US$ 8.0 billion).
State Street is the new leading asset manager in Jersey custodial assets with over US$ 13.0 billion of assets, ahead of Royal Bank of Scotland International (US$ 12.8 billion) and the Royal Bank of Canada (US$ 11.1 billion).
Paul Oranika
Editor-in-Chief
HedgeCo.Net
Email: Editor@hedgeco.net
HedgeCo.Net is the most popular hedge fund database and community in the world. Membership on www.hedgeco.net is FREE and EASY. We also offer FREE LISTINGS for Hedge Funds!
Be sure to check out our sister sites. www.hedgefundlounge.com, www.hedgefundtools.com, and www.hedgefundemployment.com.
