Skip to main content
Sign in
Create Account
Cart
Toggle navigation
Loading
Home
Hidden
Home
2
Guides
/
Global FinTech Guide
Name
Global FinTech Guide
Country _ Name
Ireland
SectionTitle
Asset and portfolio management
Body
FinTechs belonging to this category offer asset and portfolio management services via an internet platform or software programs and usually manage and dispose of the assets of their customers long or short term according to their specifications without actually holding the property or the possession of those assets. FinTechs, which provide information about and access to overnight or time deposit accounts at national and foreign banks and which execute the transactions to these accounts, also belong to this category. Some FinTechs however only act on request of the customer.
Aside from that some FinTechs offer software or internet solutions enabling users to manage and plan their personal finances on their own by providing graphics, overviews and compilations of their financial data and sometimes indicating financial risks or opportunities, but without actually managing the assets.
Introduction
Attitude of the country towards modern asset and portfolio management services
The Irish market has seen a significant influx of asset management firms setting up a presence in Ireland to ensure continuity of access to the EU.
As well as being subject to the requirements that derive from Irish and European legislation, Alternative Investment Fund Managers (AIFM) are also subject to various other regulatory requirements based on the nature of their activities and the associated risks.
Legal affairs
Obligations and requirements to provide asset and portfolio management, or ancillary services described above
AIFMs are authorised under the European Communities (Alternative Investment FundManagers Directive) Regulations 2013 (the AIFMD Regulations) which transpose the EU Alternative Investment Fund Managers Directive (AIFMD) into Irish law.
For AIFM authorisation in Ireland, the Central bank requires:
a) the applicant is a body corporate with registered and head office in Ireland;
b) the applicant meets the specific regulatory capital requirements (as outlined below);
c) its shareholders, directors and managers satisfy all fitness and probity requirements;
d) its directors and managers have sufficient experience in the type of AIF being managed;
e) the group structure does not prevent effective supervision by the Central Bank;
f) satisfaction that the AIFM will be able to meet the conditions of the AIFMD Regulations and AIFMD Level 2 (provides for capital and authorisation requirements).
Capital requirements:
a) Self-managed AIFMs are required to have an initial capital of €300,000. An external AIFM is required to have initial capital of at least €125,000 in place plus 0.02% of the value of the portfolios of the fund it manages in excess of €250 million, subject to a cap of €10 million.
b) There is an additional requirement for external AIFMs to have in place insurance for an amount equal to 0.90% of the Assets under Management (AUM) or alternatively to hold additional capital equivalent to 0.01% of the AUM.
The normal timeframe for getting authorised as an AIFM is 4 to 6 months from the submission of a complete application to the Central Bank.
Additional comments regarding the legal situation for asset and portfolio management services or what FinTech’s must be aware of in this business area
N/A.
Economic conditions
Market size for asset and portfolio management services and biggest companies in this business area
There are 194 authorised and registered AIFM’s in Ireland at present.
According to the Irish Funds Industry Association, Ireland is a leader for both AIF and UCITS products. Total assets under administration are approx. €4.3 trillion. Irish domiciled funds amount to over €2.2 tri
Loading
BackToCountry
Hidden
Hidden
Back to country
Ireland
2
Switch country
Global overview
Authors
Loading
Name
Organisation
Email
Hidden
Hidden
Eoghan Doyle
Philip Lee LLP
[email protected]
0
2219
Simon O'Neill
Philip Lee LLP
[email protected]
0
2219
Andrew Tzialli
Philip Lee LLP
[email protected]
0
2219
Close
Choose country
Loading
Country
Hidden
Hidden
Albania
158
2
Argentina
503
2
Australia
173
2
Austria
668
2
Bosnia and Herzegovina
188
2
Canada
143
2
Chile
233
2
China
248
2
Colombia
263
2
Costa Rica
278
2
Croatia
293
2
Czech Republic
803
2
Dominican Republic
818
2
Egypt
308
2
France
713
2
Germany
203
2
Hong Kong
728
2
Hungary
338
2
Ireland
683
2
Italy
323
2
Korea, Republic of
353
2
Malaysia
653
2
Mexico
623
2
Montenegro
368
2
New Zealand
383
2
North Macedonia
428
2
Peru
413
2
Philippines
398
2
Poland
473
2
Portugal
488
2
Romania
788
2
Serbia
458
2
Slovenia
518
2
Spain
533
2
Switzerland
698
2
Thailand
548
2
Turkey
743
2
United Kingdom
773
2
United Rep of Tanzania
758
2
United States
578
2
Uruguay
563
2
{1}
##LOC[OK]##
{1}
##LOC[OK]##
##LOC[Cancel]##
{1}
##LOC[OK]##
##LOC[Cancel]##