Irish Stock Exchange

A listing increases a fund’s potential investor base.
Legal or regulatory constraints may mean that institutional investors are either restricted or prohibited from investing in unlisted securities or securities which are not listed on a recognised, regulated stock exchange. Listing on the Irish Stock Exchange enables a fund to market to these institutional investors.

A listing allows investors to mark their fund investment to market.
Many fund investors require a publicly quoted stock exchange price for their investments.

A listing increases a fund’s prestige and profile.
A listing on a long established, well regulated and recognised European stock exchange provides a valuable marketing tool for fund promoters.

A listing provides publicly available information for investors.
All NAVs notified and announcements made by listed funds are reported through the Irish Stock Exchange information dissemination system and are carried by Reuters, Bloomberg, other news services and also appear on the ISE website.

The ISE has achieved its leading position in the listing of investment funds because it has a number of key strengths.

Reputation The ISE is a long established, well regulated and reputable European stock exchange. Since its establishment in 1793, the ISE has provided the main national market for Irish equity securities and Government bonds. From 1973 to 1995 it was merged with the London Stock Exchange. Since separating, it has continued to apply standards of regulation to stockbrokers and listed companies which are acknowledged to be among the highest in Europe. These characteristics provide a listed fund with the credibility and profile which are valuable tools in the marketing of the fund worldwide.

Recognition The ISE has received the relevant recognitions from the market authorities in many jurisdictions including Japan and the United States. This significantly expands the potential investor base for listed funds.

Experience We have been listing investment funds since 1989 and currently list in excess of 800 new funds and subfunds each year. As a result we have listed funds from almost every major fund domicile. We have extensive experience of many types of investment vehicles, structures and products having listed hedge funds, feeder funds, multi-manager funds, property funds, as well as funds investing in venture capital, emerging markets and derivatives.

Specialist Knowledge We have a team of experienced listing personnel specialising in the investment fund sector which ensures a consistent and pragmatic approach to the documentation required for listing.

Specialist Rules We have specific, commercially driven, listing requirements . In 1996, we published updated listing requirements for investment funds, following extensive and inclusive industry consultation. These requirements are continuously under review and a revised edition was published in August 1998.

Flexibility Our experience has allowed us to recognise and appreciate the commercial reality and evolving nature of the funds sector and we are constantly reviewing, amending and adapting our rules to facilitate new fund structures and products.

Speed We commit, and ensure adherence to, strict turnaround times on all documents submitted to us (i.e. 5 business days for a first draft and two business days for subsequent drafts). A fast-track service is available for an additional fee whereby turnaround times are halved.