The group, which includes Ken Owens, chairman of the Irish Fund Industry Association, will visit Boston and New York, to highlight the attractions of Ireland as a fund domicile.
According to Owens, growing demand for regulated structures from European institutions – driven by investors’ own internal governance rules, and regulations such as the Alternative Investment Fund Managers directive and Dodd Frank Act – is likely to benefit the island.
“Because of these developments, we are going to see much greater use of regulated structures – and in particular the various Irish fund models that are currently available,” he said.
The trade mission follows a strong 2011 for the Irish funds industry, in relative and absolute terms. As International Adviser reported, the assets of investment funds domiciled in Ireland surpassed €1trn for the first time in November last year, up 40% on November 2009.
Luxembourg, meanwhile, suffered a €101bn fall in its assets under management, although it remains by far the biggest fund domicile in Europe and second only to the US globally.
