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The Irish Association of Investment Managers welcomes the comments from Minister for Finance, Jack Chambers, highlighting the importance of the asset management sector and the Funds Sector Review, which the association has contributed to.
The government has stated that: "The Review will seek to ensure that the funds sector in Ireland is resilient and that the regulatory and supervisory frameworks are future-proofed, supportive of macro-prudential stability, investor protection and consistent with international best-practice standards."
Michael D’Arcy, Chief Executive of the IAIM, said: “We have been engaging with policymakers, created some new initiatives to increase collaboration further and look forward to working even more closely with the government in the months and years ahead to protect investors and this important sector for Ireland.
“Collaboration between the asset management industry, regulators and government is critical so each can understand different perspectives in order to best serve investors—largely ordinary savers and pensioners.”
Michael added: “These investors are based all across the world and our members manage these funds from Ireland. Our members understand first-hand how well delegation is working for investors and are ideally placed to demonstrate that to policymakers.
“We must not lose sight of the end investor and what is in their best interests. Together we must ensure that change is not counterproductive.”
During today’s Budget speech, Minister Jack Chambers spoke about the importance of the Asset Management and Funds sector and the review that has been ongoing over the last 18 months or so.
He explained: “This is an important policy initiative here at the Department of Finance Ireland and the Funds Review Team has worked on a number of recommendations that can shape the future development of the sector here.”
The Minister has recently received the Report from the Funds Review Team and today he signalled his intention is to bring the final report to the government shortly.
“I look forward to the next phase of this important work,” Michael concluded.