IRELAND - Qualifying Investor Funds (QIFs) increased by 35% to €153bn ($209bn) during 2010, figures from Central Bank of Ireland reveal.
QIF is a regulated investment fund targeted at institutional investors who meet the financial and subscription requirements.
The QIFs already comply with the majority of the Alternative Investment Fund Managers Directive (AIFMD) - the regulatory regime in Ireland, said Irish Funds Industry Association (IFIA).
These figures come after the IFIA announced Irish domiciled funds reached €963bn in net asset value at the end of 2010, up nearly a third from €748bn in 2009 (Global Pensions: 3 February 2011).
IFIA CEO Gary Palmer said: "As the industry, in general, moves towards increased transparency and regulation, Ireland and the Irish QIF - which is AIFMD ready - are in a prime position to offer the solutions to alternative fund managers from across the globe."
The Pensions Regulator (TPR) has set out plans to use "new regulatory initiatives" with over 1,000 schemes as it aims to tighten its regulatory grip and boost member outcomes.
HM Revenue and Customs (HMRC) has announced it is delaying the provision of data that will enable pension schemes to confirm the guaranteed minimum pension (GMP) benefits to pay to members until the end of the year.
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