Investec has expanded its funds administration business, opening an office in Jersey in an effort to continue to maximise on the new business coming into the Channel Islands.

 
The Jersey office will commence by offering administration services to closed-ended property funds which may or may not be listed on a recognised stock exchange.

 

The office will work closely with Investec Administration Services Limited (IASL) in Guernsey which is one of the leading Channel Islands fund administrators providing high quality, tailored, independent third party administration of investment schemes including property, private equity and financial market funds.

 
Project manager for the Jersey offering Carole Piazza explained that it was a natural and necessary progression to launch a funds administration services company in Jersey.

 
“Jersey’s property funds business increased by 30% over 2006 and is now worth more than £27 billion to the island, with total funds administered in the Island being worth over £180 billion” she said.

 

“IASL in Guernsey has been successful in this market and we wanted to ensure we can continue to offer our clients the flexibility of operating in other jurisdictions, and that includes offering a professional service in Jersey.

 

 

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