Gap widens between Mourant and its rivals

Mourant du Feu & Jeune has reaffirmed its position as the leading fund law firm in Jersey as the number of funds serviced in Jersey broke the 1,000 barrier.

Mourant advised on 716 funds in the 12 months to 30 June 2005, maintaining its lead at the top of the table. It also increased its market share of the Jersey funds industry, when measured by assets, from 51 to 57 per cent.

Cyman Davies, head of the funds legal team at Mourant, told The Lawyer: "It is not just that we came top, but that there is such clear blue water between us and our nearest rival."

Davies says Mourant's large funds legal team, coupled with its dedicated arm Mourant International Finance Administration, has led to this continued success.

Mourant International topped league tables for Jersey administrators, managing funds with combined net assets of $47.3bn (£27.6bn).

Second place in the table goes to Bedell Cristin, which advised on 421 funds according to annual research by Lipper Fitzrovia, while Ogier & Le Masurier took the third spot with 384 funds.

The Jersey fund market has seen impressive growth over the 12-month period of the research. Total net assets of funds in Jersey rose 27 per cent from $107bn (£62.5bn) to $137bn (£80bn).

Davies says the island's success is a result of its good regulation and fund management infrastructure. Jersey has also attracted business from Cayman Islands funds and has been marketing itself as a place for hedge funds.