UK - Total fund assets in Jersey grew by US$5.4bn despite difficult global investment conditions, according to research firm Fitzrovia International.
Assets under management settled at US$79.6bn in the year to June 30, 2001.
The number of funds serviced in the UK tax haven also showed moderate growth from 795 to 817 funds.
Other findings from Fitzrovia’s seventh ‘Jersey Fund Encyclopaedia’ included showing the Royal Bank of Canada as the largest administrator of all funds serviced on the island with US$15.8bn assets under administration. Mourant & Co (US$14.8bn) and Deutsche Bank International (US$ 10.7bn) took second and third place respectively.
Royal Bank of Canada also ranked first for serviced fund assets under custody (US$ 15.1bn), ahead of Deutsche Bank International (US$ 13.1 billion) and JP Morgan (US$ 4.7bn).
However, when looking at just domiciled funds, Deutsche Bank International had the largest market share for both funds under administration (US$10.7bn) and funds under custody (US$ 11.1bn).
Among auditors, PricewaterhouseCoopers (PwC) audited 265 funds, ahead of Ernst & Young (206 funds). Mourant du Feu & Jeune was the legal adviser for the largest number of Jersey-serviced funds at 480.
By Madhu Kalia
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