Investec has expanded its funds administration business by opening an office in Jersey. The new office will start by offering administration services to closed-ended property funds and will work closely with Investec Administration Services in Guernsey. “Jersey’s property funds business increased by 30 per cent 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,” said Carole Piazza manager of the new office. Ms Piazza said the objective for the business in the next six months was to establish relationships with introducers who have been looking for a business which offers a choice of jurisdictions as well as the security of a dynamic fund administrator with a proven track record.