The willingness of the Irish regulatory authority, the Central Bank of Ireland, to implement timely authorisation processes and to adapt and develop its regulation to keep pace with developments in the investment funds industry, both in its interpretation of the UCITS framework and more generally, has contributed hugely to Ireland’s success. As a result, the investment funds industry in Ireland has developed rapidly, with more than 12,000 people now directly employed in investment funds related activities.
Over 40 per cent of global alternative investment funds are serviced in Ireland, which has fostered an expertise in administering hedge funds but also familiarity with the sophisticated risk strategies which UCITS are now permitted to use.
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