Global Asset Management has moved all of its Isle of Man administered funds - several billion dollars...
The move is part of a rationalisation and cost-cutting operation that will see dealing, registration and client services move to the new location, although some legal services will still be run from the island.
Sue Neal, international marketing manager at GAM, said: "We made the move because we have always had Dublin-based Ucits funds and we wanted to consolidate."
Previously, GAM ran all of its Ucits funds from Dublin and its offshore funds, which are domiciled in the British Virgin Islands, from the Isle of Man.
The transfer off the island of more than 50 funds, including the $1.3bn GAM Japan fund, comes at a time when international investors and fund managers are developing enthusiasm for the island's new Experienced Investor Fund structure.
In the space of a month, there have been applications to set up 22 such funds at a total worth of more than $500m.
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