Fund fee rates from 1 July
In May we asked for your feedback on our proposed fee rates for the funds sector in Consultation Paper No.2 2020.
Our proposals related to Fund Services Businesses (FSB), Alternative Investment Funds (AIF), Collective Investment Funds (CIF), CoBO and Qualifying Segregated Managed Accounts (QSMA).
Taking your feedback on-board, from 1 July the following changes to fee rates will take effect:
- A 12.5% increase to AIF, CIF, CoBO, FSB and QSMA fee rates.
- A 2.7% increase to the Jersey Private Fund annual fee.
We recognise the concerns raised about the additional 1.5% increase in respect of funds-specific policy development and, on balance, consider that this additional levy should not be introduced at this time.
For more information you can view the full consultation feedback paper.
If your business is experiencing financial constraints due to the Covid-19 and you are concerned about paying your fees on time, you should contact your supervisor.