Ireland’s Minister for Finance Michael Noonan, TD has signed the European Union (European long-term investment funds) Regulations 2015 into effect to facilitate the establishment of ELTIFs in the country.
ELTIF application forms are available from the Central Bank of Ireland and it has confirmed that it is ready to accept ELTIF applications.
Pat Lardner, Chief Executive of Irish Funds, says: “ELTIFs represent a key component of the European Commission’s initiative on Capital Markets Union (CMU) and aim to promote cross-border long-term investment in projects such as infrastructure, sustainable energy and new technologies. As a leading centre for cross-border Alternative Investment Funds (AIFs), Ireland is well-positioned as a location to domicile, manage and service ELTIFs. Ireland already has significant experience in the long-term investment space with a range of infrastructure, green and real asset investment funds established here.
“Irish Funds responded to the ESMA consultation on Regulatory Technical Standards for ELTIFs in October and will propose enhancements to the ELTIF framework in its submission to the European Commission Call for Evidence on the EU Regulatory Framework for Financial Services. Irish Funds continues to engage with the Central Bank on matters relating to ELTIF implementation and has a dedicated ELTIF Working Group of industry experts.
“Regulation (EU) 2015/760 on European long-term investment funds took effect on 9 December 2015.”
