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Matheson ranked as Ireland’s leading funds practice

AUTHOR(S): Michael Jackson, Tara Doyle, Dualta Counihan, Joe Beashel, Anne-Marie Bohan, Shay Lydon, Liam Collins, Philip Lovegrove, Elizabeth Grace
PRACTICE AREA GROUP: Asset Management and Investment Funds, Private Equity Funds
DATE: 06.01.2014

Matheson is ranked as 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 indicates that the total value of the funds Matheson represents increased from US$399.78 billion to US$435.59 billion 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. We have seen the Irish funds industry reach an important milestone with Central Bank figures confirming that assets under administration have now surpassed the €2.5 trillion mark. 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 and EFAMA show that 2013 growth in the net asset value of Irish domiciled funds was 10% up to November 2013.

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 €2.5 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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