US fund manager latest arrival

US investment adviser Marketfield Asset Management has added to the gradual rise in international fund managers re-domiciling products to Ireland since the introduction last year of new laws governing alternative investment funds in Europe.

The New York-based firm has appointed the Irish-based fund management division of international financial services firm State Street to manage its new Marketfield Dublin Fund, one of a number expected to be established here under the new EU governance laws.

The EU introduced new regulatory rules for the European hedge and private equity funds market — which, up until last year, did not fall under the same rules as mutual and pension funds — via the alternative investment fund managers’ directive last July.