Jersey’s growing links with South Africa featured prominently at the recent SAVCA Conference, with Ian Horswell, Director – Fund & Corporate Services at JTC, highlighting in a video produced by Jersey Finance and screened at the event how Jersey’s evolving funds ecosystem was increasingly resonating with South African managers.
Pointing in particular to Jersey’s evolution as a centre focusing on institutional investor types, Ian commented: “Initially, at JTC in Jersey we started off seeing a lot of traditional funds, such as equities, bonds, and fund of fund type arrangements. In more recent times, however, we’ve started seeing much more closed-ended work, including private equity, infrastructure, debt and real estate.”
That evolution was reflected in recent figures from the Jersey Financial Services Commission, which found that the value of fund assets serviced in Jersey grew by 8% last year to reach a new all-time high of more than £345 billion, driven by impressive growth in private equity – almost 20% over 2019.
Looking at how Jersey’s strengths are playing out in South Africa specifically, including the expertise it has, its stability, and its tried and tested private placement route to market outside of the EU’s AIFMD, Ian continued: “A theme that we’re seeing quite commonly is that traditional managers are looking for structures in Jersey – that can include setting up a fund platform or a stand-alone structure. There are a number of benefits for South African promoters, including Jersey’s simplicity for setting up a structure, and it being outside of the EU which makes it perfect for the South African local investor base.”
To view the full Jersey Finance video please click here.
For over 25 years we have been doing business in Africa and working with our clients and their advisors across the continent.
Cape Town is home to our Global Service Centre where our team of around 180 experts use market leading systems to deliver specialist fund services to clients locally and across the globe.
If you would like to find out about JTC’s funds capabilities and how we can help you, please contact Ian directly.