Irish Management Company
Our Irish management company is authorised by the Central Bank of Ireland (CBI) to act as a management company (ManCo) to Irish domiciled UCITS, assisting fund boards with the regulatory and operational burdens associated with these funds.
We may act as the management company on a standalone basis or, alternatively, can provide fund administration (accounting and transfer agency services) through our Irish administration company. We are a well-capitalised Super ManCo, with robust and scalable systems, processes and procedures and the largest ManCo in Europe with over £50bn AUM.
We have a strong track record in acting as manager with an experienced and knowledgeable local team with in-depth funds industry knowledge including investment, risk management, legal and compliance expertise. We service a range of funds including Irish UCITS, QIAIF and RIAIF as well as Cayman and BVI domiciled vehicles. We are dedicated to meeting the needs of managers promoting investment funds in the fast-growing Irish funds industry. Our ManCo fulfils the regulatory requirements and assists directors by enhancing the control and strategic oversight of the funds operations.
When acting as management company we do not have control of the fund itself. All material decisions and control are retained by the board of the fund. We do not rely on the data or reporting from the investment manager / portfolio manager to monitor investment performance or investment risk. Nor do we sit on any of the fund boards or insist on appointing any of our directors to the fund board.
- Monitoring that funds are managed in line with the funds documents and the applicable regulations
- Supporting fund boards to ensure that the day to day responsibilities and functions are met
- Actively supervising our delegates to ensure that they are performing their appointed roles
- Ensuring there is a functional and hierarchical separation of the risk management and portfolio management functions
- Providing a CP86 compliant business plan /programme of activity and ensure it is maintained and updated
- Monthly reporting to the board and attending board meetings
- Ensuring the funds’ capital requirements are always met
- Investment risk monitoring and middle office services
- Providing KIID production services.
At the end of 2016 the CBI published its final guidelines on fund management company effectiveness (CP86).
The new rules will apply to UCITS and non-UCITS Self-Managed Investment Companies (SMICs) as well as third party UCITS management Companies and independent Alternative Investment Fund Managers (AIFMs).
For existing fund management companies, full compliance with CP86 is required by 30 June 2018. Furthermore, the CBI will only approve applications for authorisation from any new fund management company submitted on or after 30 June 2018 where the fund management company complies with the new rules introduced by CP86.
The rules cover three areas; delegate oversight, organisational effectiveness and directors’ time commitments and significantly increase the risk and time requirement for boards and their directors. For boards and directors concerned with these new duties and responsibilities, our third-party management company and independent AIFM (for alternative funds) services provide ideal solutions.
Ed Hamilton-Russell – Head of Business Development, EMEA
+44 (0)20 7204 7843