Fund Accounting and Fund Administration Services
Ireland is now recognised as a centre of excellence in the provision of accounting and administrative services to investment funds.
This reputation extends not only to Dublin domiciled funds but funds based in other jurisdictions including providing administration services to UK, Cayman, Bermudian, BVI and Bahamian investment vehicles. Due to the variety of funds that can be established in Ireland, there is a corresponding depth and range in the experience of the administrators. Ireland now offers a vast array of service providers ranging from the global pedigree name to the independent boutique operator.
The Central Bank is responsible for the regulation of fund administrators and imposes different requirements depending on whether a fund is Irish-incorporated or non-Irish incorporated. With regard to Irish-incorporated funds, the regulations state that the minimum activities that must be carried out in the state are:
- Calculation of the Net Asset Value (NAV) including the calculation of the funds income and expense accruals
- Preparation of semi-annual and annual accounts
- Maintenance of the fund's financial books and records
- Payment of the funds expenses
- Calculation and payment of dividends and distributions (if required)
- All back up documents underlying the books and records and the staff that maintain them
- Supervision of the orderly liquidation and dissolution of the fund (if required)
There are over 45 administration companies operating in Dublin.
