Bank deposits in Jersey fell by about 3.7% to £145.2bn in the third quarter of 2013 with foreign currency deposits contributing about 64% of the total deposits, according to Jersey Finance.
During the quarter, the net asset value (NAV) of funds administered in Jersey was declined by 3.2% to £194.8bn, while 667 new companies were incorporated.
Go deeper with GlobalData
Access deeper industry intelligence
Experience unmatched clarity with a single platform that combines unique data, AI, and human expertise.
The latest statistics, prepared by the Jersey Financial Services Commission, highlight that the alternative investment funds sector continued to rise by about 70% of the total value of funds under administration.
Number of regulated funds grew from 1,337 to 1,348 in the third quarter compared to the same period last year, while the number of unregulated funds increased from 189 to 193.
Jersey Finance CEO Geoff Cook said that the £6.5bn drop in the NAV over the quarter can be explained by the weakening of the US dollar and the Euro against Sterling.
"Overall, the figures highlight a stable picture for Jersey and our focus remains on developing new business opportunities," Cook added.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData
