Jersey Finance Quarterly Report

Jersey’s Funds Business reaches another record high and Deposits continue to climb

The third quarter statistics for Jersey’s Finance Industry show that funds business continues to reach a new record high, whilst the banking sector has also grown and, to-date, does not appear to have been adversely affected by the introduction of the European Savings Tax Directive on 1st July 2005.

The key highlights from the findings for the period ended 30th September 2005 are as follows:

• Bank deposits increased by £6.6 billion (3.83%) to £179.6 billion during the 3rd quarter of 2005.

• The Net Asset Value of funds under administration in Jersey grew by £9.3 billion (8.3%) during the quarter to reach a record high of £121.9 billion.

• The number of Expert Funds established in Jersey increased from 79 to 98.

• The total value of funds under investment management increased by 16.26% to £42.9 billion during the quarter.

Phil Austin, Chief Executive, Jersey Finance Limited, commented: ‘These latest quarterly statistics provide further confirmation that Jersey’s Finance Industry is undergoing a period of renewed confidence and growth.’

To read the press release in full, please visit www.jerseyfinance.je