Deloitte Ireland builds network with Asian asset managers
Asia Pacific International Core of Excellence
Published April 2012
Deloitte Ireland will participate in a new Irish funds industry Asian Advisory Network to support links with Asian asset managers. Enwright de Sales, Director at Deloitte’s Asia Pacific International Core of Excellence (APICE) will head up Deloitte’s participation in the Network.
Pictured from L to R at Fund Forum Asia are Christian MacManus, Deloitte Ireland, Siu-chan Kwan, Citibank Hong Kong, Tammy Tat, Deloitte Hong Kong and Pat Lardner, Irish Funds Industry Association
Enwright de Sales, Director at Deloitte’s Asia Pacific International Core of Excellence, speaking at the recent Investment in Ireland Trade and Promotion Seminar in Hong Kong
The Network was launched at Fund Forum Asia 2012 in Hong Kong and coincides with the opening of an Irish Funds Industry Association (IFIA) representative office in Hong Kong to assist local asset managers seeking to establish regulated funds for international distribution.
Christian MacManus, Partner at Deloitte Ireland, attended Fund Forum Asia and commented:
“We are delighted to be part of this initiative in such an important and dynamic market place. We look forward to continuing our work with Asian asset managers as they seek to expand internationally. Ireland offers many distribution and fund servicing advantages in that regard. ”
Deloitte’s Asia Pacific International Core of Excellence (AP ICE) was established in June 2010 to provide international tax and other consulting services to Asia Pacific based companies investing abroad as well as multinational companies investing in Asia Pacific. AP ICE is based in Hong Kong and has a team of 23 senior professionals from 14 jurisdictions. Deloitte AP ICE has assisted several Asian asset managers with regard to investment fund set up and investment fund structuring in Ireland.
There are now over 1,400 Irish funds registered for sale in 13 Asian markets according to data from Lipper, while Asian fund promoters have increasingly turned to Irish regulated funds to market internationally.
Enwright de Sales, Senior Director of Deloitte’s Asia Pacific International Core of Excellence (APICE) commented:
“We continue to see strong interest from Asian asset managers in Ireland as a location for investment funds and in particular there is strong demand in Asia for regulated fund products such as UCITS. I am delighted to participate in the new Asian Advisory Network which will help to explore opportunities in Ireland for Asian asset managers.”
Deloitte Ireland’s work in the Chinese market was highlighted in March during the Irish Trade and Investment Mission to China. The trade mission, which included financial services representatives, commenced on Thursday 22 March in Hong Kong, before continuing on to Shenzhen, Shanghai and Beijing.