Financial Services Ireland


Ireland’s funds sector – on the march

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There’s no doubt that the funds sector is one of Ireland’s success stories and the scale and global impact of the sector, along with its role in financing the Irish economy, will continue to grow.

In our latest video series we will be discussing some of the key trends and developments impacting the industry. In the first instalment, EY’s Wealth and Asset Management Consulting Leader Paul Traynor makes the point that well managed firms should not be threatened by CP86.

He states: “CP86 asks that Fund Management Companies know what good looks like and that they measure themselves against that benchmark, be that:

  • Product design and suitability
  • Risk Management both market and operational or
  • Governance

Effectiveness is the degree to which objectives are achieved and the extent to which targeted problems are solved. Efficiency means “doing the thing right, “effectiveness means “doing the right thing”. They do not have to be mutually exclusive.”

In our second video, Strategy and Transactions Director Devarshi Ray discusses the pressures impacting the Irish domiciled third party management companies (ManCos), which fall into three broad categories:

  • Increasing regulatory expectations
  • Potentially increasing regulatory capital requirements
  • Operational leverage

In the third video of the series, partner Sinead Colreavy discusses Ireland’s amended Investment Limited Partnership Act, saying:

Modernising the Investment Limited Partnership Act of 1994 has been a longstanding priority for Ireland’s funds community and this came to fruition in December last year when the bill to amend and extend the act was passed into law.

…As a result, we see Ireland becoming a leading funds domicile for Investment managers looking to align their investors and investments with a flexible regulated partnership. It will also help to facilitate long-term investments in renewable energy, energy efficiency, carbon capture and other transition finance projects.

Watch Sinead’s video below or read more about the key features of the new ILP Act, and the opportunities it represents.

Check back for future releases aimed at the Irish funds sector, and don’t hesitate to reach out if you have a question.

Thought Leaders

Paul Traynor

FS Partner, Wealth & Asset Management Consulting Lead

Alan O’Brien

Head of Strategy and Transactions

Sinéad Colreavy

FS Tax Partner, EMEIA WAM Tax Leader

Devarshi Ray

FS Partner, Strategy and Transactions