Media reports that the world’s largest fund is to be based in Jersey
17 Mar 2017
“News is also filtering through in Jersey that the World's largest fund is to be based in the Island”, writes Andy Cunningham, ZEDRA Director, Jersey, “this being a new $100billion technology fund which is widely expected to be supported by both Saudi Arabia and Apple Inc. among other high profile investors.”
This is seen as a major coup for Jersey in the Funds arena and will add significant weight to Jersey’s fund presence in the world.
Jersey has announced some significant streamlining advantages for Jersey's successful Private Funds regime, a sector in which ZEDRA is very active, with some significant structures
The rule will replace the existing Very Private Fund (VPF) and Private Placement Fund (PPF) regimes for new funds, but with the main features matching those of the lighter-touch VPF regime.
The Jersey Chief Minister, Senator Ian Gorst, stated that, “It is extremely significant that the operators of that Fund are minded to use a Jersey Fund structure, for what is, or will be, the largest Fund in the world. It's not only important for its pure size, but also what it's going to invest in, and that is technologies of the future”
With the confidence this shows in the Jersey Fund’s industry it is easy to understand ZEDRA’s decision to develop its funds capabilities in Jersey. Ivo Hemelraad, ZEDRA Group Director Corporate Funds & Legalcommented “Jersey’s standing in the funds sector is that of a top jurisdiction worldwide and its regime and offerings are highly regarded in the industry.”
Bridget Barker, ZEDRA Executive Director, London, noted, “this is exactly the sort of development that shows how we can market Jersey and ZEDRA’s funds credentials in the international market.”
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