The Irish Funds Industry Association (Irish Funds) is the representative body for the international investment fund community in Ireland. Founded in 1991, Irish Funds represents fund managers, custodian banks, administrators, transfer agents, professional advisory firms and other specialist firms involved in the international fund services industry in Ireland. Members come from all areas of the international funds industry and Irish Funds is well-placed to support and complement the continued development of the industry. Irish Funds vigorously pursues the goals of enhancing and promoting Ireland as the location of choice for the domiciling and administration of investment funds.
Through its representation and participation on government and industry committees/working groups, Irish Funds has contributed to and helped shape the development of Ireland's regulatory and legislative framework and has proven that industry and authority can work in partnership together without compromising the essential integrity of their differing mandates. Through the development of policy and guidance papers in complex areas such as compliance, valuation, accounting, share dealing and registration, Irish Funds defines market practice. The collaboration across our member companies ensures that a wide range of industry perspectives and insights are represented in the formulation of these policy and guidance papers.
The IFIA's activities can be classified under five broad categories:
Environment: The IFIA represents the industry with the regulatory authority and Government agencies to ensure that the environment and infrastructure available can support the continued development of the industry.
Market Practice: Through the development of industry policy and guidance papers, the Association assists in the defining of practice in complex areas such as compliance, valuation, accounting, share dealing and registration. The partnership between its administration, legal and audit members ensure that all interests are addressed in the formulation of these guidance papers.
Training: Through the Certificate and Diploma in Investment Fund Services (a joint programme with the Institute of Bankers), a schedule of training programmes and industry-specific seminars and briefings, the Association actively supports the professional development of those working in the industry.
Marketing: The IFIA is responsible for raising the profile of Ireland internationally - not only as a domicile for the registration of funds but as a location for the administration of investment funds wherever they may be domiciled. The hosting of the IFIA/NICSA Annual Global Funds Conference in May 2006 and the hosting of industry briefing seminars in key overseas markets like New York, Boston and London, are examples of how the Association seeks to promote itself internationally.
International Representation: The IFIA maintains close relations with its counterparts in other leading investment fund countries. It represents Ireland at the European Fund and Asset Management Association (EFAMA). It has particularly close relationships with NICSA and ALFI, the national associations of the US and Luxembourg.
An elected council of 12 members governs the Association. The work of the Council is supported by a network of committees and working groups and the day to day affairs of the Association are managed by a full time secretariat.