Warning on tighter fund regulation

REPAYMENT: The closure of a British fund run by once-star money manager Neil Woodford may mean that stricter rules are needed to bolster the ability of funds to repay investors in times of stress, Ireland’s central bank said.

Ireland’s funds sector is closely tied to Britain, with 200 UK-based asset managers running Irish domiciled funds holding about £642bn in assets. The Woodford fund was suspended in June.