The fund jurisdiction in Ireland is described as an increasingly integrated European market from both a regulatory and distribution perspective. The Sarasin Group said the transfer will enable investors to exploit revised UCITS (Undertaking for Collective Investment in Transferable Securities) directives, which include reduced fund costs and extra benefits related to withholding tax treaties.

The new UCITS regulation was passed by the European Parliament in 2009 and came into effect in its most recent incarnation last Friday.

As part of the move, the firm introduces a single swinging price and reduces its fixed administration charge by at least 0.065 per cent. Existing units will be considered Class A units following the re-domiciliation.  The funds have new names, but investors’ account numbers and agencies code numbers stay the same.

Sarasin has sought high level tax guidance for investors from the UK, the US, Switzerland and South Africa, and advises investors to consult their advisors about the potential tax consequences.

According to Guernsey Finance, the jurisdiction has £263.6 billion (around $423 billion) in funds under management and administration.

Separately, Bank Sarasin & Co opened the doors of its sixth Swiss office in Lucerne last week.