The number of fund service providers which have opened offices in Jersey during the last 12 months has passed double figures as a result of the arrival of a Luxembourg administration firm, according to Jersey Finance.

Alter Domus, which has its headquarters in Luxembourg, has opened a new office in Jersey. Alter Domus is a provider of outsourced administration services.

According to figures recorded by the Jersey Financial Services Commission, 11 fund administration or fund management firms have sought and obtained licences to open new offices in Jersey during the last 12 months.

“It is also encouraging that, even in the current climate, we continue to talk to  other firms considering the option of opening locally. In some cases, the question is whe ther they will re-locate their main headquarters to Jersey,” Geoff Cook, chief executive of Jersey Finance, said.

The following fund service providers have obtained licences and opened offices in Jersey during the last 12 months: AIB Jersey Fund Services; Alter Domus (Jersey); Herald Fund Services; IFG Fund Administration (Jersey); IPES (Jersey); La Salle Global Fund Services; Orchard Wealth Management; Saltgate; Spearpoint; Vistra (Jersey), and Whitmill Trust Company.