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Event Summary: Irish Funds Inaugural South Africa Roadshow, April 2019

29 April 2019

Following a marked increase in Irish funds being established by South African asset managers in recent years, Irish Funds and representatives from the Irish Funds industry embarked on an inaugural two city roadshow to South Africa in April 2019.

Johannesburg

On Tuesday, 9 April, Irish Funds visited Johannesburg for an afternoon seminar followed by networking drinks, kindly hosted and sponsored by JPMorgan. In front of an audience of 49 delegates, His Excellency Liam MacGabhann, Ambassador of Ireland to South Africa, gave a keynote speech on behalf of the Irish Government, highlighting the strength of Irish financial services the commonalities between Ireland and South Africa and the desire to promote cross border trade.

Industry experts then discussed ‘Why Ireland for funds’ on a panel, considering options for setting up Irish funds and available structures and comparative advantages of Ireland vs. other jurisdictions. There followed a presentation on ‘Brexit and Beyond’ highlighting some of the implications for distributing funds to UK investors and investing in UK assets in a hard Brexit scenario and associated solutions that managers could consider. The presentation on ‘Future Developments in Regulation’ summarised key points related to MiFID 2, ESG, Real Assets and Ireland’s new Investment Limited Partnership (ILP). The session concluded with a panel discussion on ‘Fund Distribution from Ireland’ providing advice on how to distribute to investors in Europe, South Africa and global distribution trends.

Cape Town

Round two commenced early on Thursday, 11 April in Cape Town, again as guests of sponsors JPMorgan with a welcome breakfast for 68 delegates. The event started with a keynote speech by The Association of Savings and Investments South Africa (ASISA) CEO Leon Campher, where he emphasised the importance of international collaboration between national regulators and industry associations. The panel discussions and presentations followed the same format as Johannesburg.

In characteristic Irish Funds style, the organisation of both events was exemplary, by the Irish Funds staff both in person and behind the scenes, as well as support by member firms.

The overwhelming feedback from the South African asset management community was positive. For those delegates already managing Irish funds, the events proved a great opportunity to get up to date on the latest developments and for those just embarking on the journey to manage funds outside of South Africa or to distribute to international investors, an excellent opportunity to learn from Irish Funds members and get advice from South African managers who have already become international.

Representatives from the following entities spoke at one or more of the events:

ASISA, Benguela Global Fund Managers, Catalyst Fund Managers, Dillon Eustace, Irish Funds, JP Morgan, Link Asset Services, Maples Group, Northern Trust, Pinsent Masons, PortfolioMetrix, Prescient Fund Services (Ireland), Prudential Portfolio Management, PWC, Sanlam Investments and Sanne and The Government of Ireland.


Post submitted By Rob Childs, Head of International, Prescient Fund Services (Ireland)

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