The Irish Government's Funds Industry Review, “Funds Sector 2030”: What are your hopes and expectations in relation to the implementation of the recommendations in the Funds Sector 2030 review? (Note: The 2026 Budget will be announced on October 7th 2025 - and may include provisions relevant to the overall recommendations in the Review).

Private assets: In the August 2024 issue of Finance Dublin, the CEO of Irish Funds, Pat Lardner, wrote, ‘A gap exists in Ireland’s provision of tools for managing investments in private assets. Closing this gap via a mixture of legislative and regulatory changes will ensure Ireland remains competitively strong, thus enabling the industry’s future growth.’ One year on, can you comment on the progress that has been made on this front?

Loan Originating AIFs: AIFMD 2.0 introduces a new regulatory framework for loan-originating AIFs and is set to come into force on 16 April 2026, creating a harmonised framework for loan originating activities across the European Union. What possibilities will exist under this framework for innovation by fund managers and promoters and what opportunities does this present for Ireland-based AIFs?

Government’s Public Consultation on IFS: Can you provide a summary (perhaps up to c.5 key points. if applicable) of key recommendations made in your firm to the PC on IFS to be incorporated in the 2026 Ireland for Finance Strategy?

Irish funds industry statistical overview: Latest figures from the Central Bank of Ireland show that at the end of June 2025 net assets of Irish domiciled funds reached €5,004bn. Net assets were up marginally (+0.2%) on the end 2024 total of €4,993bn, but up 11.5% on the June 2024 total of €4,488bn. Can you comment on the trends, such as underlying asset values in traded markets this year and the exchange rate of the USD?

ETFs – Product Consolidation and Evolution: Please comment on structural trends in ETF markets over the past year. Please reference here, for example, the role of Active ETFs versus Passive ETFs in this context, and also the growth of ETF derivatives, such as buffer ETFs

Crypto and Blockchain based asset tokenisation & its regulation Please comment on trends over the past year in this area, including regulatory and legislative developments on both sides of the Atlantic, including, for example, the US ‘Genius’ Act, and, in the EU, developments under the MiCA regulation.

Artificial Intelligence in the Asset Management Industry: Please comment on trends over the past year, indeed, past six months, in this area, including reference to case studies from your own experience on how it can be used to drive operational economies for the benefit of all, and how it can enhance the drive for Alpha.

Ireland as an Investment Funds Gateway to Europe in the era of the SIU: The S.I.U and the regulatory agenda being rolled out by the new EU Commission established last year opens opportunities for the Irish based industry to provide unprecedented access to the EU’s investment markets. Examples of this include AIMFD 2.0, ELTIF 2.0, the hoped for roll out of national SIAs in EU retail markets (including Ireland – see Finance Dublin, August 2025), and new positive regulatory developments. Please comment including your assessment of the opportunities but also potential drawbacks.

QIAIFs: The Central Bank of Ireland has proposed amendments to its AIF Rulebook in CP162. Can you comment on these changes in the light of AIFMD 2.0 and the recommendations contained in the Funds Sector 2030 Review?