New York City-based fund manager Hamlin Capital Management has launched its first Ucits fund and domiciled it in Ireland.
RBC Investor & Treasury Services (RBC I&TS) is custodian and fund administrator to the vehicle, which is called the Hamlin High Dividend Equity Ucits Fund.
Hamlin is an income-oriented, independent investment firm that caters to high net-worth individuals and institutions.
Kevin O’Neill, managing director, asset managers – North America, at RBC I&TS, says US fund managers are increasingly seeking growth outside of domestic markets and looking to countries like Ireland and Luxembourg as centres for globally distributed investment funds.
“US asset managers already account for 54% of assets under administration or custody of funds domiciled in Ireland and 24% of those in Luxembourg,” he says.
RBC I&TS operations in Ireland and Luxembourg together currently service over €300 billion in funds managed by US-based clients. The firm also has $900 billion (€816 billion) in Ucits assets under administration between the Irish and Luxembourg markets.
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