Ireland’s Ucits changes turn it into fastest-growing fund haven

Author: Olly Jackson | Published: 22 Feb 2019

According to asset management sources, regulators’ recent streamlining of the authorisation and post-authorisation processes in Ireland for undertakings for collective investment in transferable securities (Ucits) have been successful. The growth rate of the country’s funds industry is now significantly higher than global leader Luxembourg’s.

Because of the amendments, the filing process in Ireland is now perceived to be much quicker than other jurisdictions, including Luxembourg.

CIFC Asset Management launched its Ucits fund at the end of January, and told IFLR that it chose Ireland to domicile the fund for this reason.

Changes in November 2018, including that the Central Bank of Ireland (CBI) will no longer conduct prior reviews of depositary agreements, prospectuses and Ucits financial indices, have significantly accelerated the process. The CBI also published a Ucits merger application form, which intended to shorten the process.

According to Jay Huang, managing director and head of structured credit...