The Irish Funds Industry Association has reported an increase in applications by hedge fund managers who are seeking authorization under the Alternative Investment Fund Managers Directive in Ireland.
According to information released by the Central Bank of Ireland to the IFIA on Monday, 72 funds are currently being processed. 11 alternative investment managers are already authorized under the AIFMD, while 47 applications were received in “recent weeks.”
The CBI is expecting to process up to 90 applications between now and the July 22 deadline. Under the AIFMD, hedge funds across the European Union will be consistently regulated for the first time.
Ireland remains the leading country internationally for the servicing and domiciling of alternative investment funds, with $2 trillion in alternative assets administered there.