# States of Jersey Common Investment Fund

States of Jersey Common Investment Fund is a Sovereign Wealth Fund based in St Helier, Jersey.

## Overview

- **Organization type:** Sovereign Wealth Fund
- **Headquarters:** St Helier, Jersey
- **Region:** Europe
- **Address:** St Helier, Jersey
- **Assets under management:** Undisclosed
- **Website:** gov.je

## Regulatory record

- **Reports private funds:** No

## About

The States of Jersey Common Investment Fund (CIF) serves as the central investment pool for the Government of Jersey, consolidating surplus capital from several public bodies into a single managed vehicle. Its largest participants include the Public Employees Pension Fund (PEPF) and the Jersey Teachers' Superannuation Fund (JTSF), making it a back-office aggregation tool rather than a retail-facing or sovereign wealth vehicle. The fund deploys across four core pools: Equity Pool CIF Units, Absolute Return CIF Units, Government Bond CIF Units, and a Jersey Public Estate Portfolio consisting of mixed-use properties on the island. This structure gives it a hybrid posture — liquid global market exposure alongside illiquid local real assets. The CIF's governance sits within Jersey's Treasury function, and its adherence to a formal Ethical Investment Strategy binds it to the UN Principles for Responsible Investment. While a disclosure on the size of the combined pools has not been made public, the institutional backing from two of Jersey's primary public pension funds anchors its role in the island's financial architecture. Jersey Finance lists the CIF among the institutions defining the jurisdiction's public-sector investment landscape. What distinguishes the CIF structurally is its role as a government cash-management and pension reserve aggregator operating under a charitable-trust style ethical constraint. Unlike a commercial outsourced CIO, it does not compete for external mandates; it exists solely to steward the legacy liabilities of Jersey's public workforce, binding asset allocation directly to the island's demographic and fiscal needs.

## Sectors

- Real Estate
- Infrastructure
- Private Equity
- Hedge Funds

## Questions

### Who governs the investment decisions of the Common Investment Fund?

The Treasury Advisory Panel (TAP) provides governance, setting the strategic asset allocation and monitoring the performance of external managers. TAP members are appointed by Jersey's Minister for Treasury and Resources. Day-to-day management is delegated to professional investment managers selected through a public procurement process.

### What is the structure of the CIF's opportunities pools?

The fund maintains three Opportunities Pools, labeled 1, 2, and 3, which invest across private equity, infrastructure, and absolute return strategies. Each pool has a distinct mandate and risk profile. They operate alongside a separate Property Pool that holds direct and indirect real estate investments globally.

### Are the CIF's investment mandates publicly available?

Jersey publishes a States of Jersey Annual Report and Accounts that includes investment performance and asset allocation summaries. The exact mandate documents and manager agreements are not routinely published, but strategic benchmarks and policy statements are available through the Treasury department.

## Related profiles

- [State Street](https://altss.com/profile/state-street-corporation)
- [States of Jersey Common Investment Fund](https://altss.com/profile/states-of-jersey-common-investment-fund-cif)

---

Last updated: 2026-08-11T02:43:31.692Z

Canonical page: https://altss.com/profile/states-of-jersey-common-investment-fund

Maintained by Altss — https://altss.com — methodology: https://altss.com/methodology