Ireland gains massive boost for private funds market following new reforms
The Bill provides greater flexibility for firms to set up private markets funds in Ireland, giving the country a huge boost as it competes with other fund domiciles.
The Bill provides greater flexibility for firms to set up private markets funds in Ireland, giving the country a huge boost as it competes with other fund domiciles.
The move will allow Euroclear UK and Ireland (EUI) to continue to settle Irish-domiciled funds and securities once the Brexit transition period ends on 31 December.
Among the swathe of recent appointments, the former head of investor services for Ireland at Citi has joined to lead BNY Mellon's Irish fund services business.
The mandate includes a bundled package across fund administration, depositary and custody on HSBC's growing European ETF servicing platform.
The expansion follows several strategic hires, a recent acquisition, and other investments, including the launch of its fund services businesses in the US and APAC markets.
The acquisition will see the addition of CLPSI’s range of back-office administration services, as well as business process management, technology and consultancy services.
Fund assets serviced in Ireland by the global custodians rose by 6.2% to reach nearly $4 trillion at the end of June 2019, according to new research.
Europe's largest asset managers are working towards launching new and transitioning current Irish-domiciled ETFs to an ICSD settlement structure.
A recent report suggests managers face very little time to select an alternative for Irish-issued ETFs that are still settling in a domestic model.
BNY Mellon will provide custody and fund accounting services for Goldman Sachs Asset Management's first European ETF.