Jersey fund assets rise by US$ 5 billion

Total fund assets serviced in Jersey have increased by US$ 5.4 billion over the year to 30 June 2001, to reach US$ 79.6 billion, according to latest research from Fitzrovia International plc.

Fitzrovia's Jersey Fund Encyclopaedia, the seventh and latest comprehensive analysis of the Jersey funds industry, shows that growth in the funds industry has continued despite the difficult global investment conditions. The number of funds serviced (see notes to editors) in Jersey also grew slightly from 795 to 817 funds….

…The largest administrator of all funds serviced on the Island is the Royal Bank of Canada, with US$ 15.8 billion assets under administration. Mourant & Co (US$ 14.8 billion) and Deutsche Bank International (US$ 10.7 billion) are second and third. Interestingly, of the new funds added to the report over the last year, Mourant & Co has taken the largest proportion, with 29 funds (US$ 7.9 billion assets) under administration.

Royal Bank of Canada also ranks first for serviced fund assets under custody (US$ 15.1 billion), ahead of Deutsche Bank International (US$ 13.1 billion) and JP Morgan (US$ 4.7 billion).

However, when looking just at domiciled funds, Deutsche Bank International has the largest market share for both funds under administration (US$ 10.7 billion) and funds under custody (US$ 11.1 bn)…

…Russell Turner, Head of Fund Administration - Jersey, Deutsche International (sic), comments: "We are delighted that in the context of extremely difficult stock market conditions, Fitzrovia's latest survey demonstrates that Jersey's fund industry has seen further substantial growth and that Deutsche Bank has maintained its position as the number one ranked administrator and custodian of Jersey domiciled funds"

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