Continuing our series on operating under foreign jurisdictions, Gerard Moore and Bruno Savoie look at a country where infrastructure is strongly funded and arbitration well established
First corporate bond fund launched for credit unions in Kilkenny
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Amundi, Europe’s largest asset manager and leading financial services firm Goodbody have jointly launched the first corporate bond fund for credit unions in Ireland, bringing innovation and choice to the sector as well as helping the institutions to mitigate against the impact of negative interest rates.
The launch of the €150 million+ Amundi Fund Solutions ICAV Select Investment Grade Bond fund enables credit unions to invest in a diversified portfolio of corporate bonds in efforts to achieve an attractive yield. Up until now, credit unions could only invest in a limited range of investment options including bank deposits, government bonds and bank bonds. The move follows Central Bank Regulations in 2018 that allowed Credit Unions to invest in a corporate bond fund with a minimum requirement of €150 million at launch.