Despite regulatory warnings of an ongoing high-risk outlook for the asset management sector, 2021 was undoubtedly a year in which recovery from the pandemic and the market volatility of Q1 2020 was strongly in evidence. At end-September 2021, investor inflows and positive revaluations drove net assets values of Irish resident funds to an all-time-high of €3,774bn and assets under management across Europe were expected to exceed the €30 trillion threshold for the first time. It was also a seminal year for the sector with several impactful legislative initiatives coming into effect, including the Sustainable Finance Disclosures Regulation, the Cross-Border Distribution of Funds regime and the Investment Firms Directive and Regulation.
Against the backdrop of continuing pandemic-related operational challenges, and in large part as a result of these challenges, the schedule for legal and regulatory developments in 2022 is unlikely to provide the sector with any sizeable grace period in which to bed down 2021 compliance measures. Financial stability and the operational resilience of firms are key drivers of new and upcoming national and EU measures, which continue to focus on digitalisation and sustainability as tools to support the economic recovery. Many of the initiatives which took effect in 2021, particularly in the ESG & Sustainability space, include further compliance deadlines and provide for the adoption of additional legislative measures in 2022 and beyond.
In this, the first edition of our Asset Management & Investment Funds Update in 2022, we analyse key upcoming dates and deadlines to assist funds’ and fund managers’ compliance preparations for what is likely to be another busy, yet opportunity-filled, year for the sector. Please click here or on the image below to access our Fund Manager’s Guide to 2022.