02/06/2011
By Ilonka Oudenampsen
The Irish Funds Industry Association and the IDA Ireland, the Irish Government’s inward investment agency, will open representative offices in the US and the UK.
Representatives of the Irish funds industry will now be on the ground in New York, Boston, Chicago, Atlanta and London, with plans to open more offices in key locations around the globe over the coming months.
Ken Owens, new chairperson of the IFIA, said: “The Irish funds industry had a record-breaking year and reached an all time high of €1.9 trillion - up from €1.4 trillion at the end of 2009.
“Ireland remains the fastest growing of the major cross-border UCITS domiciles and saw the proportion of global hedge funds domiciled in Ireland double during 2010.
“Opening these representative offices means that we can be on the ground in two of our primary markets to promote Ireland as the jurisdiction of choice for internationally distributed investment funds and be on hand to assist managers looking for the product solutions and expertise Ireland can offer in an ever changing global regulatory landscape.”
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