Irish Funds at CAIA & 100 Women in Finance Event: Evolution of the Irish Fund Landscape and Direction of Travel

This morning, Irish Funds participated in a dynamic panel discussion at the CAIA & 100 Women in Finance event, alongside industry experts; Geraldine Brehony (Irish Funds), Shane Geraghty (K&L Gates), Paul Heffernan (Waystone), Karoline Keane, Daniel Loughney (Mediolanum International), and Patrick Farrell, CAIA (PwC). The panel delved into the rapidly evolving landscape of the Irish funds and asset management industry, highlighting Ireland's growing appeal as a premier fund domicile.

Key Takeaways:

• Historical Evolution: The panel explored the significant milestones in the Irish funds industry, from the launch of the IFSC in 1987 to the transposition of the UCITS Directive in 1989 and the AIFMD Directive in 2013. They discussed the impact of the internationalisation of the funds industry in the 90s and 00s and the pivotal role of the UCITS brand in establishing Ireland's reputation as a leading fund domicile.

• Current Status: Ireland's funds industry boasts €5 trillion in assets under management (AUM) and employs 20,000 people directly. This success is largely driven by Ireland’s market-leading position in ETFs, holding a 73% share of the EU market. The panel noted significant innovation in the types of assets within ETFs and an increase in active ETFs.

• Future Growth: The discussion highlighted the growth in private assets, with the implementation of ELTIF 2.0, the transposition of AIFMD II, and the upcoming consultation on the Central Bank's AIF Rulebook.

• Technological Innovation: The panel emphasised the importance of adapting to technological changes and driving innovation in digital assets and fund tokenisation.

• Looking Forward: The future direction of the industry was discussed in light of the Commission's recent SIU communication, with a focus on increasing retail investor participation and implementing the recommendations from the Funds Review 2030 report.

Ultimately, Ireland is the 3rd largest global centre for investment fund assets and the 2nd largest in Europe. The industry will continue to evolve and adapt to maintain and grow its position as a leading investment fund domicile.

Thanks to Mediolanum International - Ireland, 100 Women In Finance, and CAIA Association Chapter Ireland for organising such a fantastic event.