12 Dec 2011
Walkers have completed the first redomiciliation of a Jersey investment fund into Ireland.
The fund, BlueAlpha Global Equity Fund plc (“BlueAlpha”), successfully migrated and has been authorised in Ireland as a UCITS fund. Apex Fund Services (Ireland) Limited is BlueAlpha’s new administrator, with BNP Paribas Securities Services Dublin branch acting as custodian.
Walkers redomiciled BlueAlpha due to the regulatory environment that Ireland offers, as well as access to Ireland’s favourable tax regime and lower withholdings tax rates. The global branding of the UCITS product makes it quicker and easier to register BlueAlpha for sale in Europe and countries such as South Africa.
The fund, BlueAlpha Global Equity Fund plc (“BlueAlpha”), successfully migrated and has been authorised in Ireland as a UCITS fund. Apex Fund Services (Ireland) Limited is BlueAlpha’s new administrator, with BNP Paribas Securities Services Dublin branch acting as custodian.
Sean Peche, Director of BlueAlpha, said: “Walkers’ presence in both Jersey and Ireland meant they were uniquely positioned to assist us in the continuation. The process was extremely well managed and we couldn’t have achieved the end result without Walkers’ high level of competence and professional service.”
Walkers redomiciled BlueAlpha due to the regulatory environment that Ireland offers, as well as access to Ireland’s favourable tax regime and lower withholdings tax rates. The global branding of the UCITS product makes it quicker and easier to register BlueAlpha for sale in Europe and countries such as South Africa.
