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Firm vows to create 46 'high quality' jobs

A fund management company has promised to create up to 46 high-quality jobs here.

Heritage Administration Services Limited, a sister company of Heritage International Fund Managers Limited, is a subsidiary of the Guernsey-based Heritage Group, which provides fund administration services to the private equity, property, infrastructure and emerging market sectors.

It also supports 'esoteric' investment funds targeting asset classes such as forestry and litigation cases and is the first fund management company based outside Northern Ireland to invest here.

The company has also announced it will link up with Northern Ireland's local universities to help generate opportunities for graduates with the desired skills.

Heritage will develop its Belfast office to service UK-based funds, particularly in private equity and property.

The move has been supported with £690,000 from Invest NI and £102,000 from the Department for Employment and Learning.

Mark Huntley, managing director of Heritage Administration Services Limited and Heritage International Fund Managers Limited, said that the "grit and determination" of Northern Ireland has impressed the company. "Northern Ireland has the universities, the skills and the raw materials we need," he said.

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"There is a lot of grit and determination in Northern Ireland and we like that because there are no easy solutions in our business.

"Our people here will be offering services to clients across the globe and in different markets and we have felt very supported by both Invest NI and the universities."

Enterprise Minister Arlene Foster said there was plenty of room for growth in the industry in Northern Ireland for the future.

"The financial services sector is one that we want to promote and grow in Northern Ireland," the minister said.

"The growth is happening already with expansion at firms like Citi and NYSE and this latest announcement is a great boost and one that we hope other companies will take notice of.

"We hope there will be more announcements to follow."

Employment Minister Danny Kennedy added: "This is a real opportunity for us to show ourselves off as a location for companies like Heritage and sends out a strong signal that we are open for business."£690,000

The amount of financial support from Invest NI Heritage will receive