Irish Funds Launches China Asset Managers Guide Book

May, 2017

At its 19th Annual Global Funds Conference today, Irish Funds, the representative body for the cross-border investment funds industry in Ireland, launched ‘Ireland: A Guidebook for Chinese Asset Managers’ in partnership with the Asset Management Association of China (AMAC).

The Guidebook is the latest initiative in the funds industry’s ongoing drive to develop and grow the industry here by partnering with the global asset management community. By bringing together the unique skills and expertise of both the Chinese and Irish industries it provides a foundation for greater understanding and cooperation. The Guidebook provides a detailed set of resources to support inbound investment and the establishment of European fund presences in Ireland for Chinese managers.

The launch of the guide coincides with the first-ever visit by an industry delegation from China, which includes major managers like Haitong Securities, China Asset Management, China Southern Asset Management and GF Asset Management representing the Chinese Asset Management industry which combined has nearly €7 trillion in Assets under Management. The funds industry’s flagship Irish event this year welcomes a record attendance and over 180 delegates from overseas. 

A keynote speaker at the conference, Taoiseach Enda Kenny remarked:

“With the challenges and uncertainties surrounding Brexit, Ireland’s experience providing solutions to asset managers for over 25 years on a global stage is key to our continued growth. The continuing development of closer ties with partners around the world is evidenced by the launch of the new guidebook and the Chinese industry delegation present today.”

This latest initiative also builds on the recent positive momentum established between the two countries by the announcements of the Stock Connect infrastructure and the granting of RQFII quota of RMB 50 billion to Ireland in late 2016 and visits by Irish Funds and the Government under the IFS Ireland banner.

Hong Lei, Chairman at the Asset Management Association of China, stated:

“We are very happy with the close cooperation between AMAC and the team at Irish Funds which has culminated in the launch of this important reference Guidebook. The linkages between our capital markets are growing - the appetite for inbound investment into China is increasing at the same time that our asset management firms seek to grow their businesses internationally.  This Guidebook provides valuable information to Chinese asset managers considering the establishment of a European funds presence in Ireland. We look forward to further developing our relationship with the Irish funds industry.”

As the Chinese asset management industry continues its rapid development, China will naturally look to new markets and client bases to continue the growth of its industry. Ireland, as an established global centre for asset management and fund services, is well placed to assist.

Commenting on today’s announcement, Pat Lardner, Chief Executive at Irish Funds, said:

We welcome stronger links with Chinese managers and investors and look forward to continuing our ever-strengthening relationship with the Chinese industry. This Guidebook will increase our mutual knowledge and understanding of each other and I am confident that it will prove a valuable resource.

Ireland is now the home of 5% of world-wide investment funds assets, making it the third largest global centre and the second largest in Europe. We are providing a full range of solutions, enable full market access to the EU and have an approach to doing business which emphasises flexibility and strong execution. From a domestic perspective our industry firms are employing 15,000 professionals all around the country – professionals working in funds industry companies are living in 15 counties around Ireland.”

The Irish funds industry reached a number of important growth milestones during the last year and now administers €4.1 trillion in assets on behalf of 887 global investment managers.