Listing a Fund on the Irish Stock Exchange
The Irish Stock Exchange (ISE) is recognised worldwide as the leading centre for listing investment funds with over 7,000 fund share classes listed.
"The Irish Stock Exchange is the world's leading exchange for the listing of investment funds."
Why list on the ISE?
Investment managers from over 40 global locations list their funds on the ISE to:
- Meet investor requirements
- Increase visibility and enhance transparency
- Publish NAVs and announcements
- Increase tax efficiency
- Benefit from third party oversight
- Feature in an investor information portal - ISE FundHub
- Access ETF trading
- Choice of Markets: MSM (EU Regulated) & GEM (Exchange Regulated)
Listing Particulars
The fund must publish listing particulars, approved in advance by the ISE, which include all the information which is relevant and necessary to allow a potential investor to make an informed assessment of the fund. The same document can be used for regulatory approval and listing approval. Review times are carried out within 2 business days.
The listing particulars should contain information on:
- Persons responsible for the listing particulars, the auditors and other advisers
- Units/shares for which the application is being made
- The fund’s investment policy
- The fund’s directors and service providers
- The fund’s assets and liabilities and financial position
The ISE published a revised version of its Code of Listing Requirements and Procedures to bring its requirements into line with AIFMD and provide for a greater reliance on existing regulation. Consequently, investment managers that are approved to act under the AIFMD regime will be automatically suitable to act for listed funds.
Ongoing Requirements
The principal ‘continuing obligations’ are:
- An annual report and audited accounts must be sent to the ISE and unitholders within six months of the period end
- Notification to the ISE of the net asset value, upon calculation
- Details on controlling shareholders’, directors’ or investment managers’ interests must be notified to the ISE
- An annual fee is payable to the ISE