Jersey’s funds administration sector could be in line to benefit as onshore fund managers look to cut the costs of providing non-core services, according to a senior manager at Ernst & Young.

The comments from Pieter du Plessis come in the wake of a survey that showed that investors want management fees to cover overhead costs and not act as a source of profit for fund managers.

As a result, the survey of managers of private equity real estate funds indicated they would be looking for cheaper ways of providing services such as fund administration and accounting in future.

Mr du Plessis said that the results pointed at an opportunity for Jersey because onshore managers will be looking to outsource.