The company can now provide more services for its US-based clients in one of the most popular fund domiciles in the world.
SAN JOSE , Aug. 8, 2022 /PRNewswire-PRWeb/ -- Global financial administration leader JTC has launched its fund administration offering in Ireland following regulatory approval from the Central Bank of Ireland. This latest offering will increase the company's global presence, which already includes more than two dozen offices worldwide.
The Ireland fund administration offering will complement existing Alternative Investment Fund Manager (AIFM), depositary, and corporate solutions provided from JTC offices in Dublin and Enniscorthy. Fund administration services will include fund accounting, transfer agency, AML, FATCA/CRS and the preparation of fund financials with audit support.
Ireland is fast becoming one of the most attractive jurisdictions for fund domiciliation and offers many advantages for US-based fund managers. Boasting tax treaties with the US and EU, Ireland's relationship with the US and European financial communities is strong. At the same time, the country has a reputation for regulatory supervision and a framework compatible with local substance standards and the EU's Alternative Investment Fund Management Directive (AIFMD).
As the only English-speaking country in the EU with the Euro as its currency, Ireland offers US-based fund managers a business environment and culture similar to what they're used to, and the country's popularity as a jurisdiction means there is no shortage of expertise in alternative funds. US managers looking to expand globally by entering European markets or accepting foreign capital can take advantage of JTC's established presence in Ireland and the variety of available fund and corporate structures available in the country.
JTC is a publicly listed, global professional services business with deep expertise in fund, corporate and private client services. The company's fund services team has substantial experience and a proven track record in administering both closed and open-ended funds in jurisdictions around the world.
JTC Americas, the company's North American division, provides purpose-built solutions with a global reach, allowing US-based clients to expand overseas and international clients to enter US markets. By offering its specialized technology-based solutions to the greater market and combining its boutique feel with JTC's global reach, JTC Americas is able to provide an unprecedented level of support and scalability for clients of all sizes.
"We're excited to provide our fund clients access to another important jurisdiction," said Reid Thomas, Chief Revenue Officer and Managing Director of JTC Americas. "When clients want to take funds from local to global, whether that means fundraising in the EU or investing overseas, we can help."
The Irish fund administration offering will be led by Graham Kennedy, Chief Executive Officer - JTC Fund Solutions (Ireland), who added, "We are really pleased that JTC has been issued its fund administration license in a key financial jurisdiction such as Ireland. In conjunction with AIFM, depositary and corporate solutions, our agile teams are now able to offer clients a comprehensive range of fund and corporate services solutions, with high levels of customization, no outsourcing or functionalization of any core services, and supported by the depth and breadth of our global, listed parent company, JTC.
"We would like to thank the Central Bank of Ireland for their valuable assistance during this process and we look forward to building our Irish presence over time and more importantly, our ability to deliver service excellence to our clients."
"I am truly delighted by this announcement," said Nigel Le Quesne, Chief Executive Officer at JTC Group. "Ireland is an important part of the European fund environment and strategically important for JTC's global service offering and future growth plans. With this final piece of the puzzle in place, our Irish office is well placed to provide tailor-made, in-house solutions and will become one of our key fund jurisdictions within the JTC Group."
For more information, visit JTC Group.
JTC is a worldwide leader in financial administration with over 1,300 employees across 30 local offices and a 34-year track record in Private Equity, Fund of Funds, Alternatives, Commercial Real Estate, Debt Funds, and much more. JTC is a publicly listed, global professional services business with deep expertise in fund, corporate and private client services. Every JTC person is an owner of the business and this fundamental part of our culture aligns us with the best interests of all of our stakeholders.
Laura Kelly, JTC Americas, 4083670826, [email protected]
SOURCE JTC Americas