The Central Bank confirmed on 23 December 2010 that the minimum subscription amount for a Professional Investor Fund (“PIF”) is now reduced from €125,000 to €100,000.

This follows the reduction in the minimum subscription amount for a Qualifying Investor Fund from €250,000 to €100,000 in October 2010.

The reduction in the minimum subscription amounts for both a QIF and a PIF aligns these funds more closely with the investment limits applicable to investment funds in traditional offshore jurisdictions like the Cayman Islands.

It is expected that the Central Bank will publish amendments to the NU Series of Notices to reflect the change to a PIF's minimum subscription in due course.