The funds ind
ustry is one of the great success stories of the Irish economy. From humble beginnings in the early 1990s, the region has become a global player. According to statistics from the Irish Funds Industry Association, it services assets in excess of €1,941 billion and employs over 11,000 people.
The world today is full of cycles. There are stock market highs and lows, periods of good and bad weather even apparent cycles of good luck and bad luck. We hear about certain kinds of cycles every day “The Dow is up”, “We’re having a warming trend”, “The economy is down”. But while we commonly apply this thinking to certain areas of our life, it’s less common to think this way when we consider business processes that have longer cycles and aren’t typically considered repeatable.
From the beginning of October 2011, independent third-party distributors and locally incorporated foreign banks have been able to apply for a licence to distribute funds in China, following deregulation of the industry. This represents a significant step towards opening the People’s Republic of China (PRC) fund distribution market.
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