Ireland: Matheson Ranked As Irelandís Leading Funds Practice
Last Updated: 8 January 2014

Matheson has been ranked as having Ireland's number-one funds practice for the third consecutive year. Monterey Insight's 2013 Ireland Fund Survey has revealed that Matheson was acting for 27% of Irish domiciled investment funds by assets under management as at 30 June 2013.

Monterey Insight's influential annual survey revealed that the total value of the funds Matheson represents increased from US$399.78 million to US$435.59 million in just twelve months, in terms of assets under management.

Michael Jackson, head of Matheson's Asset Management and Investment Funds group, said, "This is great news for Matheson and it comes at a time of extraordinary progress for the Irish funds industry. Only last month we saw the Irish funds industry reach an important milestone when Central Bank figures revealed that†assets under administration have reached an all-time high of Ä2.5 trillion. Such remarkable growth cements Ireland's reputation as the leading global†alternative investment fund†administration centre,†servicing 43% of global alternative investment fund assets."

Figures from the Central Bank of Ireland released in November 2013 also showed that during the year prior, the net asset value in Irish-domiciled UCITS had† increased by 4% while non-UCITS funds increased in value by 10%.

Liam Collins, a partner in Matheson's Asset Management group, said that Ireland is fast becoming the leading European centre for AIFMD: "From the Irish perspective, we have seen a marked increase in the number of private equity fund managers considering Ireland as a domicile and this is consistent with the significant growth experienced by the Irish alternative investment fund product since AIFMD was first published."

Speaking in Scotland last November, Pat Lardner, Chief Executive of the Irish Funds Industry Association, said: "Ireland's approach and implementation of the AIFMD Directive is working and we understand that there are up to 100 applications expected in advance of the Central Bank of Ireland's deadline next February. The responsive and flexible service delivery model we operate, supports the widest possible range of investment strategies, and has helped Ireland reach its record high of assets under administration of more than Ä2.5 trillion."

Matheson has been leading the way on AIFMD, acting in an application from BlackRock during 2013 which was the first AIFM application to be approved by the Central Bank of Ireland and one of the first AIFM authorisations to be granted in Europe. Matheson also released the world's first AIFMD app in 2013.

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