About �39bn of the �162bn stored in Jersey's banks comes from non-EU countries like Switzerland and Russia.

Now representatives of the island's funds industry are going to the GAIM conference in Lausanne next week.

Jersey Finance says the funds industry is booming and the island needs to promote itself as a place to invest.

Chief executive Phil Austin says sending a delegation will help Jersey to gain new business from overseas investors.

The Jersey Financial Services Commission says the amount of money held in island accounts has risen by �7bn compared with this time last year.