Bringing you live news and features since 2006 

Jersey flag

Jersey Foundation structure celebrates fifth anniversary

RELATED TOPICS​

High standards of regulation and quality of governance oversight are the key drivers behind a marked rise in the number of Foundation structures being formed in Jersey as the structure marked its fifth anniversary last month.

Figures collated by Jersey Finance show that the number of Jersey Foundations established in the first six months of this year (33) is almost the same as the number formed in the whole of last year (36).
 
July marked the fifth anniversary of the Jersey Foundation and, despite the Isle of Man having introduced its version of a foundation in 2012 and Guernsey in 2013, the monthly formation rate of Jersey Foundations has increased in 2014 to reach its highest level since 2011 (5.5), to outstrip both that of the Isle of Man (1.3) and Guernsey (0.7).
 
The figures also show that, as at June 2014, a total of 264 Jersey Foundations have been formed since their introduction in 2009, more than four times the total number of Foundation structures in the other Crown Dependencies combined.
 
Around a third of Jersey Foundations are estimated to have a charitable or philanthropic objective, whilst the structure is finding particular favour with clients from EU countries, Switzerland, Russia, South America and the Middle East.
 
This year also sees the 30th anniversary of Jersey's trust law.
 
Geoff Cook, CEO of Jersey Finance, says: “As it marks its fifth anniversary this month, the Jersey Foundation continues to prove itself to be a flexible and attractive proposition, equally suited to charitable administration as to orphan structuring and private wealth management. We have welcomed the introduction of competitor Foundations by our fellow Crown Dependencies over the past couple of years as an opportunity to test the parameters of the distinct Jersey offering and are delighted that the appeal of the Jersey Foundation has continued to rise.
 
“We now have clear evidence that the flexibility offered and governance required by the Jersey Foundation offers the right balance of potency and proportionality, and accords with the expectations of both individual and institutional clients. The strength of the Foundation, combined with its trust and company vehicles, means that Jersey provides a good platform that can cater for a broad range of bespoke family, philanthropic and commercial needs.”

Latest News

Global X ETFs has announced the appointment of Ryan O'Connor as its Chief Executive Officer effective as of April 8, 2024. ..
Value-driven structured credit investing firm, Angel Oak Capital Advisors, LLC, has announced the completed conversions of two of its mutual..
Confidence in the continuing strength of bitcoin and Ethereum is driving wider interest in altcoins and other digital assets, according..
First Trust has announced the launch of the First Trust Vest U.S. Equity Moderate Buffer UCITS ETF – February GFEB..

Related Articles

Frank Koudelka, State Street Global Services
ETF data provider and ETF Express data partner, Trackinsight, has published its Global ETF Survey 2024 Report: ‘50+ Charts on...
Cryptocurrencies
Matteo Greco, Research Analyst at Fineqia International writes that bitcoin (BTC) ended the week at approximately USD52,150, showing a notable...
US Distribution Awards trophies
The winners of the first US ETF Distribution Awards at the Exchange conference, hosted by ETF Express and sponsored by...
Thomas Bonville, Clear Street
Just over a year ago, Thomas Bonville joined New York-based, prime brokerage Clear Street as managing director, head of derivative...
Subscribe to the ETF Express newsletter

Subscribe for access to our weekly newsletter, newsletter archive, updates on the site and exclusive email content.

Marketing by