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Global Trustee and Fiduciary Services News and Views
| Issue 47 | 2017
33
investment schemes registered for sale in the
UK and over 160 UK-based fund managers
of Irish domiciled funds, more than from any
other country.
The chart above provides some indication
of the scale of the relationship between the
two jurisdictions.
As UK asset managers evaluate their options
to maintain EU access in the wake of Brexit,
Ireland has consistently appeared on the short
list of potential jurisdictions, with industry
surveys highlighting its talent pool, common-law
legal system, proximity and use of the English
language as key advantages over competitors.
4
One priority for UK asset managers after Brexit
will be to ensure that they can continue to
manage Irish-domiciled funds on a delegated
basis. UK managers are currently able to use
a fast-track clearance on the basis that they
fall within scope of a number of EU directives
(MiFID,
5
UCITS,
6
AIFMD,
7
credit institutions,
8
etc.).
2
,
500
2
,
000
1
,
500
1
,
000
500
0
2
,
128
1
,
919
1
,
728
1
,
568
1
,
459 1
,
426
UK Germany
Number of Irish funds registered for sale
Promoter origin of Irish-domiciled investment funds
France
Austria
Rest of the World
39%
Switzerland Netherlands
USA
26%
UK
35%
Distribution to
26
other EU
Member States
via UCITS or
AIFMD passports
Distribution
to over
70
countries
across the
globe
2,128
Irish-domiciled
funds sold in the UK
EUR602bn
161
UK managers
managing irish funds
Source: Irish Funds Industry Association
In fund assets managed by
UK managers in Ireland