EU Regulated Funds
Ireland is a recognised global centre for international investment funds. Irish funds are distributed in more than 70 countries worldwide with a truly international investor base. As of December 2015, the Irish funds industry had over €3.8 trillion in assets under administration spread across approximately 13,800 funds.
While Irish funds can be classified under many headings, broadly speaking there are two main categories – UCITS funds authorised pursuant to the UCITS Directive, a European Union harmonised legal framework and AIFs authorised pursuant to the Alternative Investment Fund Managers Directive (AIFMD). These funds can be sold to both retail and institutional investors throughout the world.
Our Irish Funds Group now comprises over 50 lawyers and investment fund professionals, and offers a complete range of Irish financial services expertise which combines private practice with in-house and regulatory experience. We have been independently consistently ranked as the #1 legal adviser in Ireland for funds (i) over the past seven years (from 2010-2016 inclusive) based on the total number of new funds established and (ii) over the past four years (from 2013-2016 inclusive) based on the total number of funds advised.*
This gives us cutting edge expertise in the provision of regulatory advice whether in the area of UCITS and AIFMD. We are at the forefront of innovative product developments such as ICAV, having worked extensively with industry, the Central Bank of Ireland and the Irish Department of Finance on the drafting of the ICAV legislation.
Our Irish Funds Group is also uniquely placed in the Irish market having a dedicated Global Registration Services team which provides compliance and fund registration services with robust on-going maintenance and support to both UCITS and AIFs.
* Source: Lipper Ireland Fund Encyclopaedia 2010-2011. Monterey Insight Ireland Fund Report 2012-2016.
Areas of Expertise
Our Irish Funds Group specialises in onshore investment fund products of all types including mutual funds, pension funds, hedge funds, private equity funds, managed account platforms, master-feeder funds, fund of funds, real estate funds, ETFs, money market funds and a variety of hybrid structures. We advise on UCITS (both traditional and alternative strategies), AIFs (both qualifying investor AIFs (QIAIFs) and retail investor AIFs (RIAIFs)), supported through our firm's Global Registration Services.
These regulatory categories can be adapted to fit almost any investment strategy and there are a wide variety of legal structures available:
- Investment Companies;
- Unit Trusts;
- Investment Limited Partnerships;
- Common Contractual Funds; and
- Other categories (including Unregulated Limited Partnerships and Special Purpose Vehicles)
Each of these structures offer different legal, regulatory and tax features which can be tailored to suit international investment fund managers and their investors.
Further details of each fund structure noted above are available in the News section of the website under Legal Guides.
For more information about EU regulated funds, contact our Dublin office on +353 1 619 2000.
Combining our partners' expertise with the firm's core values ensures that our advice is commercially focused and solutions driven.