Confluence, a provider of automated investment data management solutions, has announced its expansion in the global fund industry by opening an office in Ireland.
As Ireland hosts over 40 percent of global alternative investment industry fund assets, and an infrastructure that provides distribution and domicile services to over 12,000 funds, Confluence is hoping to tap on to a growing market by expanding its European operations to Dublin.
"The global fund industry's appetite for data consolidation and automation solutions is increasing," says Skip Smith, chief operating officer at Confluence. "The Dublin office is part of our strategic plan to meet the rising needs of back office professionals. Our goal is to support asset managers and service providers as they look to solve the complex data management challenges associated with regulatory issues, and other cross-border reporting challenges."
Upcoming regulations, such as the Alternative Investment Fund Managers Directive, have increased the pressure on fund managers now on the lookout for data consolidation and automation solutions across jurisdictions.
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