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Jersey financial services strengthened says report

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Written by Administrator   
Thursday, 13 January 2005 14:14

The latest quarterly report from the Jersey Financial Services Commission shows a strong increase in the islands financial services industry.

The report details that bank deposits are up by slightly under one per cent to 159 billion for the quarter. The number of collective investment funds and rose sharply to 769 during the quarter and total funds under management stood at 35.2 billion an increase of 16.5 per cent over the same period lasts year.

Company incorporations grew during the period, with a 14 per cent increase over the same period last year.

David Carse, director general of the commission, said, The main feature of the quarter was the very sharp rise in the number of funds, which is encouraging for the development of the industry in Jersey. Bank deposits continued their steady rise and volumes of investment business and corporate activity remain well above last years levels.

 

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