Funds & Asset Management Employment Market Overview – Q3 2014

October 2

MARKET OVERVIEW

With the industry enjoying significant growth a number of strategic roles have come up in the Funds & Asset management employment market in areas such as Product Development, Relationship Management and Operations. At the more mid/junior level the funds market remains highly competitive with candidates having a lot of options when exploring their next career move. Trustee departments continue to grow with a number of leading fund Administrators recruiting at all levels. Private Equity Candidates are in high demand especially candidates with Investran system experience due to many of the principal fund administrators and custodians putting in place separate teams to service these products.

TRENDS

Custodians in Ireland are enjoying a growth in assets as new regulations like the AIFMD bring business. For depositaries and custodians the AIFMD has meant a complete re-engineering of depositary operating models, Prior to AIFMD, the depositary was required to provide a limited oversight role to non-Ucits structures, but now the depositary is obliged to provide cash monitoring, safekeeping and oversight services within clearly defined parameters.

This has meant building new interfaces for cash monitoring for identifying significant transactions that require further investigation, and ensuring a more thorough record-keeping facility, especially where special purpose vehicles may be involved. The trustee candidate market is highly competitive at the moment at the analyst level there are opportunities for candidate with operations experience within funds to make the transition and at the Senior End of the market a number of leading Fund Administrators are recruiting at the Manager Level

EMERGING MARKETS: PROPERTY & PRIVATE EQUITY FUNDS

While Ireland is widely recognised as a centre for UCITS funds and has led the way in the development of regulated hedge fund structures, its offering in relation to real estate and private equity funds is less well known. Real estate and private equity funds up to now, have generally been established in off-shore jurisdictions such as the Channel Islands or using structures such as the English limited partnership.

Ireland however is now emerging strongly as a location for real estate and private equity fund domicile.  This emergence is timely, given the likely application of the AIFMD, and the renewed interest in these asset classes as the global economy edges toward recovery.

By Mark Stephens

 

 

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Lincoln Recruitment

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