The competitiveness of Ireland’s booming funds and asset management sector could be boosted by introducing a new indirectly regulated product regime.
Indirectly regulated AIF products, which are attractive for private asset investment strategies, have enjoyed significant growth in Luxembourg, the UK and Switzerland.
“An indirectly regulated funds regime should be given serious consideration,” says Oisin McClenaghan, a partner in legal firm Ogier’s Investment Funds team.
“We would share the view of the Irish Funds Industry Association that there is a legitimate commercial reason for parties using unregulated structures, whether in Ireland or elsewhere.”
McClenaghan was commenting ahead of a seminar Ogier is organising at Convention Centre Dublin this Thursday, 14 November, where Jack Chambers, Minister for Finance, will deliver the keynote address on the theme ‘Ireland 2030: The Future of Funds and Capital Markets 2024’.
“The funds industry has enjoyed 22% growth in direct employment over the last five years.
“It’s important to recognise where we …