Jersey

Jersey funds industry worth £200bn

The value of investment funds run in Jersey has passed £200bn, reflecting an increase of £5bn in three months.

The latest figures from Jersey Finance also show that bank deposits fell slightly to £138.9bn.

Bank deposits peaked in 2007 at £220bn but Jersey Finance Director Geoff Cook said the latest fall was the result of a strong pound making deposits held in other currencies look less valuable.

Mr Cook said the finance industry was showing "clear signs of recovery".

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