Developments In Jersey Structuring And Governance

Growing use of Jersey private funds and recent best practice

Jersey private funds (JPFs) continue to be a key product in the jurisdiction's fund offering. Recent figures from the Jersey Financial Services Commission (JFSC) show that the number of JPFs grew by almost 100 in 2020 reaching 403, asserting their continuing appeal to investors. It is also worth noting that JPFs are increasingly being used for open-ended, as well as closed-ended structures.

One key feature of the JPF regime is the requirement to have a Jersey-based regulated designated service provider (DSP) with substance. In most cases the DSP also acts as the fund administrator, although this may not always be the case and will depend on the asset class and strategy. A DSP has certain specific duties in relation to a JPF, having responsibility for: