Jersey Financial Services Commission Quarterly Report

The Jersey Financial Services Commission has today (30 August 2001) issued a quarterly report for the period 1 April 2001 to 30 June 2001.

The report shows as of the 30 June 2001 the value of funds stands at £106 billion. This is an increase of 21.23% over the same quarter last year, and the first time the figure has exceeded £100 billion. The number of funds for this quarter have fallen from 313 to 302. However, sub funds have continued to rise to 1575.

Jersey bank deposits have risen to £126 billion. This is a rise of 9.2% against the same quarter last year. The number of banking licences has remained consistent with the first quarter of 2001 at 70.

The total funds under investment management (class B of the Financial Services (Jersey) Law 1998) stands at £36 billion. When compared to the same quarter last year, this shows an increase of 8.6%. As at 30 June 2001, the total number of clients of investment managers was 22,049.

Richard Pratt, Director General of the Commission commenting on the quarterly statistics said today, "It is encouraging that funds and bank deposits continue to rise in difficult world economic conditions. It is likely that these conditions will continue to affect business growth but these results show that Jersey is still experiencing a healthy influx of business."

For a full version of this press release, please visit www.jerseyfsc.org