Choosing Ogier Global as your JPF designated service provider

What is a Jersey Private Fund?

A Jersey Private Fund is a private investment fund that involves the pooling of capital raised for the fund from 50 or fewer investors, which operates on the principle of risk spreading. It can take a number of forms, including companies, unit trusts and limited partnerships.

The Jersey Private Fund (JPF) regime offers fund promoters a cost-effective, fast track (48 hour) regulatory approval process for JPFs which allows up to 50 eligible investors to participate.

A JPF is not required to comply with the Code of Practice for Certified Funds or have a private placement memorandum or an offer document. However, if provided, such a document must contain all the material information that investors and their professional advisers (if any) would reasonably require and expect to find, and to have brought fairly to their attention, for making an informed judgement about purchasing units in the JPF, including the nature and levels of risks involved.

The promoter of a JPF does not need the Jersey Financial Services Commission's (JFSC) prior approval. Personal questionnaires are also not required for directors, shareholder controllers, money laundering compliance officers (MLCOs) or money laundering reporting officers (MLROs) for a JPF application in accordance with the JPF Guide.

What are the key regulatory requirements for a JPF?

The JPF's designated service provider (DSP) is required, on application, to provide the JFSC with the information requested in the JPF application form which is submitted via the my JFSC portal.

In addition, JPFs are Schedule 2 Businesses for the purposes of the Proceeds of Crime (Jersey) Law 1999 and must be registered with the JFSC in accordance with Article 13 of the Proceeds of Crime (Supervisory Bodies) (Jersey) Law 2008.

JPFs require a DSP to provide MLCOs and MLROs. The DSP doesn’t automatically become an anti-money laundering services provider (AMLSP) and must complete an AMLSP Key Person application. The JPF, or its governing body (e.g. its trustee or general partner) will also have to appoint the DSP as the JPF's AMLSP.

The activity of a JPF is subject to the JFSC's Sound Business Practice policy, as amended from time to time. JPFs' investors must meet the definition of professional and / or eligible investors pursuant to the JPF Guide. No retail investors are permitted to invest (directly or indirectly) in a JPF (except in the circumstances as provided for in the JPF Guide).

The JFSC's expectation is that at least one Jersey resident director should be appointed to a JPF board or its governing body. The JPF annual compliance return collects data on the composition of these boards, including the number of Jersey resident directors and their affiliation with the DSP.

Regulated persons registered solely for investment business under the Financial Services (Jersey) Law 1998 cannot apply as the DSP for a "very private" JPF (with 15 or fewer offers / investors).

Ogier Global can manage every facet of a JPF's administration, from accounting, reporting, compliance (including the appointment of designated MLCOs and MLROs, who have previously worked for the JFSC) and registry services, to corporate governance and leading technical support.

Why choose Ogier Global as a DSP for JPFs?

Navigating the intricate landscape of fund administration can be daunting. We create a strategy that not only meets compliance but also enables our clients to focus on growth. 

Ogier Global Fund Administration (Jersey) Limited is trusted by some of the largest and most respected fund managers in the industry. In addition, Ogier Global Trustee (Jersey) Limited is also recognised as one of the most respected and professional trustee in the industry.  Our reputation is built on excellence and integrity. 

Our multidisciplinary team provides investment fund clients with a range of services in one location. 

This integrated approach helps us streamline processes, manage risks more effectively, and improve the overall experience for our clients. Our dedication to maintaining the highest standards has allowed us to cultivate lasting relationships based on trust and satisfaction.

Award-winning legal expertise

Backed by a team of leading private wealth and fund lawyers recognised as the best in Jersey, we provide our clients with the peace of mind that comes from having experts by their side. Our legal services in concert with our exceptional compliance service offering including Key Persons (MLCOs and MLROs) who have previously worked for the JFSC ensures that every aspect of your JPF's operations is compliant with local legislative and regulatory requirements and international standards.

Tailored DSP services

Our team has many years of experience and in-depth knowledge. We can navigate the complexities of fund management and private wealth solutions within Jersey’s regulatory framework, so you don’t have to.

We tailor DSP solutions to meet your specific needs, ensuring your fund business operates at peak efficiency.

With dedicated teams spanning private wealth, fund administration, financial reporting, regulatory compliance,  anti-money laundering (AML), governance, company secretarial and financial systems our clients find our model complements their own.

With our network of offices in many of the world's leading private wealth and funds jurisdictions, we have local knowledge and expertise to facilitate the regulatory and statutory compliance you require efficiently.