The Department of Finance in Ireland has adopted the Alternative Investment Fund Managers’ Directive (AIFMD) into national law, following the release by the Central Bank of Ireland of its AIF Rulebook and application forms in May 2013.
Kevin Murphy, chairperson of the Irish Funds Industry Association (IFIA), said that the effort to ensure Ireland is AIFMD-ready “represents Ireland’s ongoing commitment to being the domicile of choice for funds.”
Ireland is currently the world’s largest hedge fund center and was the first country to provide for regulated hedge funds, with its Qualifying Investor Fund (QIF) considered the most AIFMD-ready product on the market. Managers are increasingly turning to the QIF in preparation with total assets having doubled since April, 2009 when the first draft of AIFMD was published.
Murphy also emphasized that Ireland can now partner with the managers of half of the world’s alternative assets that are administered in Ireland to provide solutions to AIFMD.
Ireland Adopts AIFMD
The Department of Finance in Ireland has adopted the Alternative Investment Fund Managers’ Directive (AIFMD) into national law, following the release by the Central Bank of Ireland of its AIF Rulebook and application forms in May 2013.
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