Tuesday, 27 September 2016
Last updated 4 hours ago
Oct 23 2008 | 1:18pm ET
Irish and Chinese regulatory authorities today signed an agreement which will allow Chinese investors to invest in Irish-domiciled funds, opening up Irish-managed and administered funds to one of the world’s largest pools of private capital.
Chinese investors are now able to access internationally distributed investment funds domiciled and serviced in Ireland, through the qualified domestic institutional investor regime.
The value of funds serviced in Ireland is now in excess of US$2 trillion with some 8,000 funds are currently being serviced throughout Ireland, according to the Irish Funds Industry Association. Ireland also boasts the largest European domicile for money market funds, as well as being the largest alternative investment fund and exchange-traded fund administration center in Europe.
“Undoubtedly, this will strengthen Ireland’s attractiveness and standing as a domicile of choice for investment funds,” said Gary Palmer, chief executive of the IFIA. “Economic and market uncertainty has further strengthened investor appreciation for regulated and listed funds, Ireland with an acknowledged regulatory environment is ideally positioned to address this industry need.”