Funds Industry

Ireland is now recognised as a centre of excellence in the provision of shareholder services to investment funds. This reputation is firmly established on both the retail and alternative investment sides of the funds business.

The Central Bank is responsible for the regulation of the shareholder service providers and requires the following minimum activities to be carried out with respect to Irish incorporated funds:

• Receive requests for the issue or redemption of Participating Shares
• Promptly notify the Directors and the Custodian/Paying Agent/Administrator of the same
• Using the Redemption Price and Subscription Price provided by the Administrator, arrange for the following:
  - the number of Participating Shares issued;
  - the number of Participating Shares to be redeemed;
  - the total amount receivable or payable by the Company in respect of such isues and redemptions.
• Forward or deposit with the custodian paying agent or the fund all monies received on behalf of the company
• Direct the custodian/paying agent to pay the amount due on redemption to the persons entitled thereto
• Respond to all shareholder correspondence addressed to the fund
• Dispatch to the shareholders of the company such notices, reports, financial statements and other written material as may be requested from time to time by the manager or the fund
• Safekeep certificates or such other evidence representing shares of the fund
• Maintain and safeguard the register of shareholders and other documents in connection therewith and enter on such register all original issues or allotments of shares and all transfers and redemption of such shares
• Arrange with the custodian/paying agent the necessary foreign exchange transactions where payments in respect of the redemption of participating shares are tendered or requested in a currency other than the currency of the fund
• Ensure that all money laundering provisions have been satisfied in relation to shareholder transactions in accordance with the relevant legislation