Irish Funds Market Update Q1 2020

Camden Recruitment Partners, Irish Funds Market Update Q1 2020

Like everybody, we had a busy start to the year with recruitment activity at an all-time high. We were lucky enough to meet up with our key clients in January and attend industry events such as the Funds Congress and Adminovate.

On the back of COVID-19, March has had its challenges with Ireland transitioning to a remote working environment.

Recruitment activity has slowed down which is understandable, during this period our client’s number one priority is employee well-being and making sure business deliverables are met.

Our view is that the sectors below will remain active throughout Q2.

Management Companies

I think everybody in the industry has heard the term Man Co and Super Manco over the last 3 years. On the back of Brexit, we have seen a huge increase in 3rd Party Providers and Investment Managers setting up in Dublin.

Due to the influx of new entrants and the Central Bank’s CP 86 requirements we see the PCF and designated person space a great area to work in and will continue to be a growth market.

Private Markets & Real Assets:

A poll which was carried out at the Funds Congress conference earlier in the year indicated that Private Equity was the most attractive asset class for investors, so future growth is predicted.

With new entrants still planning to enter the private markets fund administration space, our view is this sector will continue to grow.

Fintech

Over the last 5 years, we have seen FS firms investing heavily in tech such as State Street acquisition of Charles River and SS&C acquiring Geneva.

Fintech’s are agile and can move quicker than global Banks so our view is that tech-savvy fund services firms will increase their market share over the next 12 months.

We also feel on the back of COVID-19, Investments Managers will seriously consider outsourcing further middle-office functions to cloud-based providers.

Depositary & Investment Compliance

Current market conditions will provide the platform for active investment managers to react quickly with the view of generating alpha.

The Depositary is responsible for the oversight, cash flow monitoring and safe keeping of a fund.

Due to the market volatility and increased trade volumes, this is an area we feel firms will look to invest in to protect investors.

Market Predictions:

We do feel that once market adjusts to working from home, recruitment activity will pick back up in Q3. On behalf of everyone here in Camden Recruitment Partners, may you and your family stay safe and healthy.

Contact:

If you would like to arrange a call to discuss the market contact us at hello@camden.ie.