Ireland is a recognised global centre for international investment funds. There are over 12,000 professionals employed in the industry servicing assets in 2013 worth over €2.3trillion in over 12,300 funds. Founded in 2006, our Dublin investment funds group is the fastest growing practice in this sector, having advised on more Irish fund launches than any other firm in 2013. (Source: Monterey Insight Ireland Report.)
Our Dublin based funds partners have unrivalled combined experience going back as far as 1989 when the International Financial Services Centre was first established in Dublin.
Our Dublin office 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 and a variety of hybrid structures.
We advise on UCITS (both traditional and alternative strategies), alternative investment funds ("AIF"), both qualifying investor AIFs ("QIAIFs") and retail investor AIFs ("RIAIFs"), including the global distribution of UCITS and AIF products and all related UCITS and AIFMD issues. 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
- 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. In addition, legislations is being developed which proposes to introduce a new corporate fund structure in Ireland. It is modelled on the European SICAV structure and is similar to an open-ended US mutual fund and is commonly being referred to as the 'ICAV'. One of the primary features of this new ICAV structure will be that it may be classified as a partnership under the US 'check-the-box' taxation rules which historically has not been the case for Irish investment companies. The ICAV will therefore be attractive to fund sponsors looking to target both non-US and US tax-exempt investors. The proposed implementing legislations is due to be enacted in the first half of 2014.
Irish funds are distributed in more than 70 countries worldwide with a truly international investor base. While Irish funds can be classified under many headings, broadly speaking there are two main categories - UCITS and AIFs which can be sold to both retail and institutional investors throughout the world.
Combining our partners' expertise with the firm's core values ensures that our advice is commercially focused and solutions driven.