The body representing Ireland's investment management industry is to set up offices in the US and UK to cater for an increasing number of overseas asset managers looking to domicile and distribute funds in the country.

The Irish Funds Industry Association, in a joint venture with the IDA, Ireland's state agency promoting Ireland as an investment hub, will have on-the-ground representatives in New York, Boston, Chicago, Atlanta and London for the first time, according to a statement released today.