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ARTICLE · 25 OCTOBER 2018

Funds - Ireland - Quarterly Update Q3 | July – September 2018

Maples Group
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Maples Group

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The Maples Group, through its leading international law firm, Maples and Calder, advises global...

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There have been a number of developments over the quarter:

IrelandFinance and Banking
Peter Stapleton
Peter Stapleton
Stephen Carty
Stephen Carty
Ian Conlon
Ian Conlon
Eimear O'Dwyer
Eimear O'Dwyer
Ciara O'Leary
Ciara O'Leary
Deirdre McIlvenna
Deirdre McIlvenna
John Gallagher
John Gallagher
Emma Conaty
Emma Conaty
Andrew Quinn
Andrew Quinn
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1 Legal & Regulatory

1.1 UCITS Update

There have been a number of developments over the quarter:

Central Bank UCITS performance fees review

On 4 September 2018 the Central Bank published the outcome of an inspection into UCITS performance fees in a letter to industry. Fund management companies are responsible for the effective oversight of performance fee charges and, in some instances, it found that performance fees were not calculated in accordance with the Central Bank's UCITS Performance Fees Guidance. It also highlights concerns that this guidance is not being applied consistently across industry. Following this all fund management companies whose UCITS funds charge performance fees are required to review their use of performance fees for compliance with the guidance by 30 November 2018.

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