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th December 2020 9:21 am
Good morning and welcome to your Morning Briefing for Thursday, 17 December, 2020. To get this in your inbox every morning click here.
Transact charges
Marking its 14th set of pricing reductions since 2008, Transact has announced it will be making another cut in early 2021.
But the main thing we will be interested to see next year is whether the platform seals the deal and swoops in for Nucleus.
Polar Capital buys boutique asset manager
Polar Capital Holdings has agreed to acquire 100 per cent of the issued share capital of boutique asset manager Dalton Strategic Partnership in a deal expected to be worth around £15.6m.
New Legislation Could Pave The Way For Hundreds Of New Jobs In The City Over The Next Five Years That s according to the Chair of Cork Chamber s Financial Services Forum and the Ireland Head of the Asset Management Exchange, Eoin Motherway.
Eoin says the Investment Limited Partnerships Bill 2020 passed in the Dáil last night is the culmination of 6 years of work and will allow new global private fund market entrants to set up in Ireland.
The funds industry already employs around 1,350 people and over 2,000 staff in the broader financial services sector in the City
Industry body Irish Funds says firms will now be able to expand their private equity, infrastructure, renewables and real estate offerings.
New bill boosts Ireland’s private funds industry
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The passage of a financial services bill in Ireland, which will create 3,000 jobs by 2025 and attract up to €20 billion ($24.2 billion) in global private capital per year, has been welcomed by the country s money management association.
The Investment Limited Partnerships (Amendment) Bill 2020 was passed in the Dail, the lower house of Ireland s parliament, on Wednesday.
The amended bill is expected to accelerate the growth of the Irish money management industry, with the potential now for firms to expand their private equity, infrastructure, renewables and real estate offerings in the country.
The Irish Funds Industry Association said in a news release that it expects the move to also have a positive effect on local employment and Ireland s position as a sustainable finance hub.