News / 25 February 2020
Crestbridge maintains upward trajectory in latest Monterey Jersey report
The value of funds administered by Crestbridge in Jersey grew by almost a third in 2019, according to figures in the Monterey Insight Jersey Fund Report 2019.
The report, published this week (24 February), shows that Crestbridge grew its total value of assets under administration in Jersey from US$9.9bn in 2018 to $13.1bn in 2019, an increase of 32%, whilst the number of funds administered by the firm also saw impressive annual growth (27%). Over the last five years, meanwhile, the total value of assets administered by Crestbridge has grown by 138% and the number of funds by 58%.
This strong performance was underpinned by an impressive rise in new business last year of some $2.2bn, the sixth largest rise in new business of all administrators in Jersey.
The performance means that Crestbridge remains a top ten administrator for Jersey domiciled funds in terms of both assets under administration and number of funds, and in the top five administrators for Jersey domiciled unregulated funds.
Michael Johnson, Head of Fund Services at Crestbridge, said: “These are strong figures that reflect the upward trajectory we have been seeing throughout 2019 and indeed over the past five years, right across our global funds business, including in Jersey. Our positive overall performance and our specific position as a leading service provider in this space is representative of our focus on supporting fund managers in an increasingly complex European fund structuring a landscape with our specialist expertise.”