With the AIFM directive giving non-EU fund managers the jitters, Ireland has taken another step forward towards making Dublin the domicile of choice for onshore newci
With the AIFM directive giving non-EU fund managers the jitters, Ireland has taken another step forward towards making Dublin the domicile of choice for onshore newcits. To help further improve clarity and transparency, Irish regulators this month have made a change in naming policy. Previously, only the name of the fund promoter under the umbrella fund structure could feature in a sub-fund’s title. But no longer. “To say that the regulations are being relaxed is a gross exaggeration,” IFIA Chief Executive, Gary Palmer (pictured), tells Hedgeweek. “The new change in policy allows the sub-fund to be named using the name of the investment manager. This brings benefits both to the investors in terms of clarity on who the investment manager is, and to the fund through its association with the chosen fund manager.” This small yet useful policy update should help fund promoters more accurately position the funds they roll out, particularly UCITS, and is yet another example of Ireland’s desire to “continue innovating and evolving,” says Palmer. “From an Irish perspective the certainty and efficiency of the regulatory process, the expertise of the industry and the global distribution opportunities for Irish funds are all adding to the perception that Ireland is the best jurisdiction for investment funds.”
