If the Ireland fund industry is able to develop a cross-border defined contribution product that would be a fantastic development for the jurisdiction, according to Stephen Crocombe from BlackRock.
Crocombe, a managing director at BlackRock, was speaking on the second day of the Irish Funds Industry Association (IFIA) Global Annual Funds Conference last week on the investor panel.
He told the audience that a cross-border defined contribution (DC) development would be great for Ireland as a jurisdiction. He said: “For the individuals in this room that create the fund structures, if you can crack cross-border DC pooling it will be a fantastic industry for Ireland. In the same way that the life business and UCITS industry has been fantastic for Ireland.”
Crocombe added: “I am very passionate about the retirement theme.
“The state has backed out of retirement provision and with the decline of [guaranteed] defined benefit schemes it is...