There has been a significant surge reported by the Irish Funds Industry Association, in applications being made by fund managers seeking authorisation under the new Alternative Fund Managers Directive (AIFMD) in Ireland.
According to information released by the Central Bank of Ireland, applications from 72 asset managers are currently being processed, and so far 11 have been authorised. 47 applications have been received just in recent weeks.
Approximately €1.5 trillion in alternative assets are administered in Ireland. The Central Bank has revised its initial expectations and say they could process up to 90 applications by the time of the July 22 deadline.
SOURCE: Funds Europe 03/03/2014
