IRELAND: Irish Funds Market Opens to Chinese Investors

Thursday October 23 2008

The Irish Funds Industry Association (IFIA) has today announced that Ireland has signed a Memorandum of Understanding with Chinese regulatory authorities. The agreement will formalise the relationship and co-operation between the two jurisdictions whilst allowing Chinese investors to invest in Irish domiciled funds through the Chinese QDII regime.

The QDII regime is only available for investment funds that are domiciled in a jurisdiction that enjoys the relevant Memorandum of Understanding with China.

In attendance and representing the IFIA were Mr Seán Páircéir, Chairman of the IFIA and Mr Michael Jackson, Vice-Chair of the IFIA.

`‘We understand this is a significant first, as Ireland is the first jurisdiction to sign agreements with both Chinese regulatory authorities where no previous agreements were in place. This very positive and welcome development will be of particular benefit and provides a significant opportunity for the manufacturers and promoters of Irish investment funds.’

This development is highly welcomed by the industry and will provide numerous benefits through the opening up of Irish managed and administered funds to one of the world’s largest pool of private capital.

Please click on the link above to see the press release announcing the MoU with China.