This report reveals how Ireland’s burgeoning funds sector is set for solid growth in 2018 as a raft of new initiatives take hold, including an updated structure that is attracting a new wave of PE managers and a new flexible Loan Origination QIAIF scheme.
The 'Ireland Fund Services 2018' special report comprises six separate articles listed below, these can be read individually or as a sequence.
Ireland’s investment funds industry shows no sign of slowing with total AUM reaching EUR2.4 trillion by end of 2017. That’s a 16 per cent growth year-on-year and represents a new high watermark for the jurisdiction, as alternative fund managers continue to set up UCITS and QIAIFs.
Interest in Ireland among private debt and private equity fund managers remains strong, especially with the highly anticipated amended Irish Investment Limited Partnership (ILP), scheduled to be formally approved later this year.
By Gayle Bowen & Aongus McCarthy, Pinsent Masons – Under new rules implemented by the Central Bank of Ireland (“Central Bank”) last month, Irish Loan Originating Qualifying Investor AIFS (“L-QIAIFs”) are now permitted to adopt broader credit focussed strategies. Previously L-QIAIFs were prohibited from engaging in any activities other than lending and ancillary related operations.
Although most institutional investors are comfortable with the idea of fund managers outsourcing middle- and back-office functions while they focus on managing the investment strategy, they are taking great care and attention at the pre-allocation stage, as part of the ODD process.
By Mark Crossan, Bridge Consulting – Irish Funds are on the move again. Every couple of years there is a new product evolution. In 2015 we had the introduction of the ICAV (Irish Collective Asset Management Vehicle) and 2018 is shaping up to be no different. Not only could this year be the year that Ireland gets its eagerly awaited revamped Investment Limited Partnership (ILP) structure, but it looks like other changes are afoot as well.
By Keith Parker, Link Asset Services – The Irish funds industry had another bumper year with total assets for 2017 growing by EUR298 billion – a 16 per cent year-on-year increase – to a record high of EUR2.4 trillion1, a substantial figure and testament to the attractiveness of Ireland as a global funds domicile. Of this total just over 76 per cent represents UCITS funds’ assets, the balance representing alternative assets. More than 900 fund managers from 50-plus countries have assets serviced in Ireland.2