Legal & General Investment Management (LGIM) has secured authorisation from the Central Bank of Ireland (CBI) for its new management company in Dublin called LGIM Managers (Europe).

The company first announced plans for the new Dublin Super Manco in May last year. It said that the Dublin unit will offer necessary governance to serve its client base, irrespective of the result of Brexit negotiations.

The Dublin business will manage LGIM’s UCITS and Alternative Investment Funds (AIFs) in the European Union (EU). The funds to be managed by the new entity include index, active equity, bonds, multi-asset, as well as money markets.

LGIM Ireland managing director Eve Finn said: “I am delighted that our Super ManCo in Dublin has been authorised by the CBI. This will allow us to manage all of our EU-domiciled funds within Europe after the UK leaves the EU.

“Europe is a strategic focus for LGIM and we are committed to offering leading investment solutions to all our clients across the region. This is an exciting time for LGIM as we continue to expand our global footprint.”