Supporting Europe’s Investment Future: Irish Funds Meets with European Commissioner Albuquerque

We would like to extend our thanks to European Commissioner for Financial Services and the Savings and Investments Union (SIU), Maria Luis Albuquerque, who Irish Funds met with today in Dublin.

This was an important opportunity to discuss the key contribution that Ireland's global investment funds and asset management industry will play in supporting the delivery of the SIU. We are at a critical juncture in securing Europe’s long-term competitiveness and finding ways to further develop and enhance capital markets and investment activity will be key to our Union’s continued economic, political, and social success.

We expressed our strong support for the Recommendations on Savings and Investment Accounts and the Financial Literacy Strategy published by the Commission on Tuesday, which lays out the blueprint to achieve increased investment activity by citizens across the EU. It is essential that we equip our citizens with the tools, knowledge, and the ability to access investment solutions that allow them to adequately protect their financial future.

The meeting also addressed key upcoming SIU legislative proposals from the Commission planned for later this year in relation to market integration, covering potential amendments to the AIFMD and UCITS Directive, supervision, and efforts to improve the pensions environment across Europe. We also addressed the important debate on the review of the UCITS eligible assets.  At the core of our discussion, we emphasized the need to protect the things that are working well while find solutions to truly maximize the potential of the EU single market. From that perspective, we firmly argued for the protection of the global UCITS brand – one of the biggest success stories of the EU to date, used by both retail and institutional investors in Europe and around the world.

From our Dublin and Brussels offices we will continue to engage in the SIU policy debate positively and proactively and to offer our experience, expertise and knowledge to EU officials and regulators.