JERSEY has launched 26 unregulated funds since the introduction of a new regime in February this year.
Under the new rules there is no audit requirement, no limit on the number of investors, no investment or borrowing restrictions and no requirement for Jersey service providers.
Funds are launched without regulatory assessment and remain subject to Jersey’s anti-money laundering requirements.
Jersey Finance Limited technical director Robert Kirkby said that it was a solid start for the unregulated regime, despite the challenging conditions in the market.
‘Considering that the number of fund launches generally has slowed, the industry is encouraged by such a promising start,’ he said. ‘We are seeing significant interest in the new regime and law firms in the Island have reported a surge of inquiries about the new rules.’
Pictured: Robert Kirkby