Legal & General Investment Management's (LGIM) Dublin arm, LGIM Managers (Europe) has been authorised by the Irish regulator, the Central Bank of Ireland (CBI), furthering the firm's ambitions to make Dublin its new European centre.
LGIM announced plans in May 2017 to set up a management company in the Republic of Ireland to manage its EU-domiciled UCITS and Alternative Investment Funds (AIFs), also known as a Super Manco. The funds under the Super Manco include index, active equity, bonds, multi-asset, LDI and money markets strategies.
The firm said it is safeguarding against the outcome of the Brexit negotiations, whatever they may be, by ensuring the new management company implements the necessary governance ahead of the UK leaving the EU.
The Irish business will leverage LGIM's operations across the UK, the US and Asia.
Eve Finn, managing director for LGIM Ireland, said: "I am delighted that our Super Manco in Dublin has been authorised by the CBI. This will allow us to manage all of our EU-domiciled funds within Europe after the UK leaves the EU.
"Europe is a strategic focus for LGIM and we are committed to offering leading investment solutions to all our clients across the region. This is an exciting time for LGIM as we continue to expand our global footprint."
Legal & General Investment Management (LGIM) is one of Europe's largest asset managers with total assets under management of €1,108bn.
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