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#First18: From Survive to Thrive

A roadmap to guide newly authorised fund management companies through the key challenges in their first 18 months

The greatest pain about Brexit for many people isn’t so much trying to keep up as the politicians stumble from crisis to crisis and deadline to deadline.  It’s the fact that Brexit contingency planning and scenario testing is taking much-needed focus and attention away from your firm’s job of helping clients, creating innovative products, and building and growing business.  It’s costly in both time and money terms. And, as we know from experience with previous major events (e.g. 2008 financial crisis), Brexit is not going away anytime soon.

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The real killer is that all of this work, time and effort is only to keep you in the same place that you are already in: having direct access to EU markets.  All this energy is spent just to stand still.

You’ve finally had a new Irish fund management company authorised in the last 6 months, or that authorisation is due in the next 6 months. Have you thought about the next set of challenges once that authorisation comes through?

From an Irish perspective, we are delighted that you have chosen Ireland as your Brexit solution.  But we want your Irish manco to be more than a compliance exercise. We want it to thrive, and become a key contributor to your bottom line.

To do this, we think it is important to lay solid foundations during the first 18 months.  As an industry, we have worked with numerous clients who have been through this process already, and we have seen similar issues arise time and again. We’re taking this expertise and experience, and creating a roadmap that will help new mancos in Ireland.

Drawing on our own experience coupled with insights, ideas and feedback from industry experts, we have identified the five key challenges facing newly authorised Irish mancos: recruitment, personal tax, regulatory, compliance and legal. We are also setting out how to navigate each challenge in an efficient and effective manner – helping you get back to the day job.

We are also considering how the Central Bank’s approach to substance and organisation of new Irish mancos might affect existing Irish mancos and self-managed investment companies.

All of this research and information will be available in our special report #First18: From Survive to Thrive.  It is scheduled for release in summer 2019.  Register here to be the first to get a copy.

Although drafting of #First18 is almost complete, we are still delighted to hear from industry experts who have insights to add.  If you would like to contribute and build your personal brand, you can register here, and our marketing team will be in touch.

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