Mon, Feb 8, 2016
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

A 39% drop and fourth year of decline finds the fund business in Jersey struggling

Wednesday, July 03, 2013

Beverly Chandler, Opalesque London:

The Statistics Unit of Jersey, has released the 2012 Survey of Financial Institutions report which covers banks, fund managers, investment trusts, accountancy and legal firms on the island. Jersey is one of the Channel Islands and an offshore financial centre, home to a substantial financial services business, including hedge funds and fund administration firms.

Over 2012, Jersey's finance sector recorded total gross operating surplus of £720m ($1bn) representing a fall of 1% compared with 2011, and total gross operating surplus has been substantially flat for the last three years. The banking sub-sector accounted for more than three quarters of the total net profit. In 2012, the fund management sub-sector recorded a decrease in net profit of almost two - fifths (39 %) on an annual basis, representing the fourth consecutive year of decline. Since a peak in 2008, when the net profit of Fund management was estimated at £180 million, the net profit for this sub - sector has decreased by more than four - fifths .

In 2012 , the net profit of the Fund management sub - sector was estimated at £25 million. The net profit for Accountancy in 2012 was estimated at £ 27 million , representing the highest level for this sub - sector since at least 1998 .

In the latest year , the net p......................

To view our full article Click here

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing


  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. How Einhorn survived a nightmare year[more]

    From Bloomberg.com: Even when a hedge fund has an awful year, which was the case for David Einhorn's Greenlight Capital, there are lessons to be learned. Many funds would have had a tough time surviving a year like Einhorn experienced in 2015, when all the stars seemed to align against him and Green

  2. Legal - Hedge fund founder wins early release in U.S. insider trading case, Gramercy seeking $1.3 billion from Peru over land-bond dispute[more]

    Hedge fund founder wins early release in U.S. insider trading case From Reuters/Streetinsider.com: Former hedge fund manager Doug Whitman on Tuesday won a reprieve from serving the remainder of his two-year sentence for insider trading after several judges expressed skepticism that his 2

  3. Investing - David Einhorn finds a winner in Michael Kors[more]

    From Thestreetinsider.com: Greenlight Capital hedge fund manger David Einhorn took his lumps in 2015. The fund lost over 20 percent on the year amid bets gone bad being long a plunging SunEdison and short a couple high-flying FANG stocks. However, today Einhorn is again showing his stock picking pro

  4. Investing - Avenue Capital's Marc Lasry: We like European bank loans, Comment: A bunch of hedge fund managers are chasing the 'dream of crushing a major structural problem'[more]

    Avenue Capital's Marc Lasry: We like European bank loans From CNBC.com: European banks are under immense pressure, but at least one prominent hedge fund has found what it thinks is a good opportunity in the wreckage. Marc Lasry, co-founder and chief executive of hedge fund Avenue Capital

  5. Computer-driven hedge funds make money during January’s selloff[more]

    Komfie Manalo, Opalesque Asia: Commodity trading advisers (CTAs) that use computer programs to guide how they trade, made millions of dollars during last month’s market selloff on the back of declining oil prices and global equities and big moves in currencies. Data provider