Friday March 22 2019

News Source: Global Exchanges

Focus: Croatia

Type: General

Country: Ireland

Link: https://bit.ly/2TR5CRP




The Central Bank of Ireland (CBI) has confirmed that Irish Undertakings for Collective Investments in Transferable Securities (UCITS) and Alternative Investment Funds (AIFs) can invest in the Chinese interbank bond market via Bond Connect.

In recent months, the CBI worked closely with the Irish fund industry to evaluate how Bond Connect operates to facilitate investments in the Chinese interbank bond market and, in particular, how a depository ensures that the manner in which bonds are held under Bond Connect allows the depositary to meet its safe-keeping legal obligations under the UCITS Regulations and AIFMD and any conditions imposed by the CBI.

In an official response letter from the CBI to the Irish Funds Industry Association, the CBI provided guidance to Irish UCITS and AIFs that its depository or sub-custodian is obligated to ensure that it retains control over the bonds.

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