The Jersey Financial Services Commission (JFSC) has reported a sustained strong uptake in the Jersey Private Fund (JPF), with 100 structures being formed less than one year since its launch.
The 100 JPF was registered by the JFSC last week (2 March), underlining the interest in the product since it was launched in mid-March last year.
The latest addition to Jersey’s suite of fund structuring options, the JPF was introduced to provide institutional and professional investors with a more streamlined and fast-track regime with tailored ongoing regulatory requirements, under which funds for up to 50 investors could be established in as little as 48 hours.
By providing a more flexible and versatile framework, the JPF has markedly improved the speed and ease with which funds marketed to professional investors can be established, whilst at the same time ensuring continued compliance with international standards by requiring the appointment of a Jersey-based administrator.
The JPF is also available to managers seeking some vital certainty in marketing their funds into Europe through National Private Placement Regimes (NPPRs).
Commenting on the 100 registration of the JPF, Geoff Cook, CEO, Jersey Finance, said: “We’re focused on providing forward-thinking solutions for the alternative fundscommunity to ensure their future success, and the JPF is an example of that.
Our excellent reputation as a specialist funds centre is based on our ability to provide genuine speed to market and expertise as well as appropriate regulatory oversight. The clear evidence is that the prospect of 48-hour authorisation for funds with up to 50 investors is playing out well amongst fund managers and cementing our position as a market leader.”