The number of Jersey-registered alternative fund managers marketing their funds in Europe through national private placement regimes (NPPRs) under the European Union's Alternative Investment Fund Managers Directive has been rising steadily.

The AIFMD, as readers know, interprets the term 'marketing' as a direct or indirect offering or placement of an alternative investment fund or AIF at the behest of an alternative investment fund manager or AIFMs to investors domiciled, or with registered offices, in the EU. By the end of last month, 104 AIFMs had been authorised in Jersey to use NPPRs - up 24% on June's figure. Over the same half year, the number of Jersey AIFs going to Europe through NPPR authorisation stood at 230 - up 12%. The statistics come from Jersey Finance, the island's promotional body.

Further statistics from the Jersey Financial Services Commission, the island's regulator, show that, as at September 2015, the net asset value of all alternative funds being administered in Jersey had grown by 12% year-on-year to stand at £159bn, including rises of 21% in hedge, 2% in private equity and 16% in real estate funds. The European Securties and Markets Authority, an organ of the EU, wants Jersey to be granted a 'pan-European passport', although the matter is out of its hands. 'Passport marketing' will, if and when it happens, open up a new route through which offshore centres such as Jersey can place funds in Europe.