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Bailey McCann, Opalesque New York:

2014 was an exceptionally strong year for the private funds industry in Ireland, and 2015 is on pace to continue the strong growth trend according to delegates at the inaugural Opalesque Ireland Roundtable.

"Net assets of Irish domiciled funds are up 24% in terms of AUM, and we are the second largest fund domicile in Europe," explains Andrea Kelly, PwC. "Net assets of UCITS funds increased by 22% to EUR 1,274bn while net assets of non-UCITS increased by 29% to EUR 387bn. Looking at industry statistics, that growth figure compares very strongly against other competing domiciles, with Ireland having the highest net sales of any European domicile in 2014. Ireland accounts for 50% of the European domiliced ETF market also. We have also seen a 40% increase in terms AUM in non domiciled funds which are administered in Ireland."

The country is also implementing a new fund structure the Irish Collective Asset-management Vehicle (ICAV). The structure is designed specifically for alternative investment funds and UCITS funds. Irish regulators adopted the structure as part of a broader modernization effort surrounding financial services industry regulation. "Ireland was also the first domicile to launch a regulated loan origination fund vehicle," Kelly adds. Even though adoption has been somewhat slow for the newer structures, delegates remain optimistic about the growth potential of Ireland as a domicile.

Ireland introduced re-domicila......................

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