More Jersey funds and fund managers have been authorised for
marketing into Europe over the last 12 months as the Island
continues to see healthy growth in the asset management sector.
Ogier partner Niamh Lalor says that the attraction of Jersey as
a funds jurisdiction is demonstrated by the 17% rise in alternative
investment fund managers (AIFMs) and the 15% rise in Jersey
alternative investment funds (AIFs) marketed into Europe through
the National Private Placement Regime (NPPR).
The NPPR system allows non-EU Alternative Investment Fund
Managers and Alternative Investment Funds to market funds into the
EU but only if they comply with each EU country's national
regime.
The NPPR route will ultimately be replaced by the extension of
the AIFMD passport regime – the European Securities and
Markets Authority says that there are no significant obstacles to
the passport being extended to Jersey – but there is no clear
timeframe for the new regime's arrival.
