Fund administration: navigating change and opportunity in 2026

Looking ahead to 2026, the fund administration sector continues to evolve in response to macroeconomic shifts, tightening regulations and investors’ calls for greater transparency and service integration.

Ogier's Corporate and Fiduciary services division, Ogier Global, has teams in the UK, Ireland, Jersey and Luxembourg who continue to track developments across local and international markets.

In this article, Ogier Global's experts share their practical views on European fund administration in the year ahead. It includes insights from Mark Grenyer, newly appointed Head of Fund Administration in Jersey, and Michaël Goosse, recently appointed Head of Fund Administration in Luxembourg, as well as Ogier Global’s Nikki Shah, Nichola Costello and Jeff Pamplin.

Fund administration in 2025: what were the key themes?

• There's been a strong investor appetite for private credit, infrastructure, real assets and impact funds throughout the year
• Geopolitical uncertainty is driving resilient private market assets and ongoing product innovation 
• Regulation: AIFMD II (with a focus on transparency and governance); SFDR (highlighting sustainability); BEPS Pillar Two (impacting tax and cross-border structuring); preparation for the Artificial Intelligence Act (EU AI Act, effective in 2026); DORA - the Digital Operational Resilience Act, adopted by the European Union to ensure financial entities can withstand, respond to and recover from all types of ICT-related disruptions and threats
• Digital transformation: including AI integration, tokenisation and digital assets 
• ESG: validating sustainability data and robust reporting 
• Talent: demand for specialised skills in compliance, technology and ESG reporting

United Kingdom: adapting to a post-regulatory reset 

Nikki Shah, Associate Director of Fund Administration in London for Ogier Global:

“The UK is adapting to new regulations, notably Financial Conduct Authority (FCA) initiatives supporting alternative and long-term asset funds. Following significant regulatory changes, there is renewed industry focus on the FCA’s efforts to boost fund competitiveness, especially the momentum behind long-term asset funds (LTAFs), which are attracting interest for potential new investment strategies. The region is developing as an alternative funds hub, driven by regulatory adaptation and market innovation.

"In parallel, the UK is aligning with global trends in digital assets and tokenisation within the funds sector. Throughout 2025, UK investment managers launched tokenised funds and the FCA has published recent papers on this topic. The regulator is exploring further developments, recognising advantages such as increased transparency and efficiency in trade processing, which could drive growth in this space.

"The UK funds sector is seeing changes in investor preferences. Both institutional and retail investors can now access a broader pool of asset classes, most notably private assets. There is increasing demand for customisation, with ESG requirements becoming essential for both product structuring and reporting.

"Technology is transforming fund administration and delivering efficiency gains. However, data compliance is more challenging, with teams adapting to stricter standards on privacy, transparency and reporting. The UK market is embracing innovation, but governance and integrity remain key. Our priority is supporting clients as they manage both regulatory change and disruptive technology.

"As the UK matures, its role as a gateway for global fund flows is expected to strengthen, underpinned by its sturdy infrastructure and a forward-thinking approach to compliance and reporting.”

Ireland: growth, compliance and capacity

Nichola Costello, Head of Transfer Agency for Ogier Global's Fund Administration team in Ireland:

"Ireland continues to experience sustained growth as a leading domicile for both UCITS and AIFs, solidifying its reputation as a global fund centre. The market has been shaped by the recent AIFMD II review, along with the Central Bank of Ireland’s updated strategic focus, which now emphasises technological innovation, data-driven transformation, operational resilience and climate transition in addition to governance and substance.

"These regulatory developments encourage fund managers and administrators to not only demonstrate strong operational and local oversight frameworks but also to embrace advancements in technology, innovate processes and enhance efficiency to respond to evolving market dynamics and regulatory expectations.

"There’s a clear trend toward manager outsourcing, which is fuelling demand for third-party administration solutions. This shift allows managers to focus on investment performance, while leveraging specialist expertise for regulatory compliance, risk management and investor services.

"As the sector expands, capacity and scalability are top priorities. The growing complexity and volume of funds in Ireland brings new challenges around talent acquisition and operational efficiency. At Ogier Global, we’re investing in both our people and our technology, ensuring we have the expertise and systems in place to deliver responsive solutions for clients.

"Ireland’s growth story is built on a foundation of strong governance and innovation. Meeting client needs in a dynamic environment means building capacity and continuously developing our team and tech capabilities.”

Jersey: governance, flexibility and connectivity

Mark Grenyer, Head of Fund Administration in Jersey for Ogier Global:

“Jersey’s position as a premier fund jurisdiction remains strong, thanks to its agile regulatory framework, speed to market and reputation for robust governance. The enduring popularity of Jersey Private Funds (JPFs) highlights the jurisdiction’s ability to meet the evolving needs of fund managers and investors, particularly in the private capital space. JPFs are providing efficient structuring options for those seeking flexibility alongside regulatory certainty.

"Connectivity is another key strength, with Jersey continuing to build relationships with investors in both the EU and GCC regions. The growing links with the UAE are especially notable and are opening doors for cross-border capital raising and deployment.

"Jersey’s success lies in its blend of governance and flexibility. We’re positioned to facilitate global capital flows while maintaining the high standards our clients and regulators expect. This combination makes Jersey a trusted platform for both established and emerging fund strategies.”

Luxembourg: complexity and scale 

Michaël Goosse, Head of Fund Administration in Luxembourg for Ogier Global:

“Luxembourg’s fund sector is expanding in both complexity and scale. The market continues to see significant growth in reserved alternative investment funds (RAIFs), special limited partnerships (SCSps) and other unregulated structures, as managers seek flexible solutions that can adapt to fast-changing investor needs. ESG frameworks are also evolving rapidly, with both demand and regulation driving a renewed focus on sustainable investment strategies.

"Digital reporting and tax transparency remain at the forefront, especially amid ongoing trends in cross-border fund distribution. Administrators are central to this process, ensuring that clients benefit from digital efficiencies while maintaining compliance across a diverse and challenging regulatory landscape.

"Ogier Global actively supports managers in navigating the regulatory landscape and operational complexities inherent in doing business in Luxembourg, making it easier for clients to establish and grow their fund structures. We help to break down barriers, taking care of the complexities so our clients can focus on fundraising and executing their investment strategies.

"Importantly, many of these complexities arise right from the initial stages, such as operational setup, onboarding and bank account opening - areas where our expertise enables us to accelerate and facilitate the process. By streamlining these steps, Ogier Global ensures that managers are able to move forward efficiently, while we manage the details behind the scenes.

"Navigating Luxembourg’s regulatory requirements means finding the right balance between stringent standards and innovation. Our role is to guide managers through new product launches and reporting frameworks, keeping them ahead of industry developments. With scale comes complexity and Luxembourg’s future as a European fund hub depends on its ability to combine thorough oversight with continued innovation and growth.”

Europe-wide integration: consistency across borders

Jeff Pamplin, Head of Fund Administration:

“European fund markets are increasingly integrated, particularly in compliance and reporting. Although EU-wide regulations provide a common framework, national differences in interpretation and local requirements can pose challenges for fund managers operating cross-border. Administrators play a key role in consistency and meeting regulatory standards.

"Cross-border consolidation is emerging as an opportunity for managers to strengthen operational resilience, streamline processes and deliver efficiencies at scale. This integration is driven by the need to meet regulatory standards and reporting requirements without compromising speed or accuracy.

"Ogier Global’s multi-jurisdictional network is designed to bridge gaps and facilitate wider access to both new and expanding markets. Our presence in key fund hubs, such as the UK, Ireland, Luxembourg and Jersey, enables us to support clients as they explore more sophisticated structures, tap into emerging opportunities and access good value assets across both domestic and cross-border markets.

"In particular, investors in private markets are increasingly seeking tax-efficient vehicles and diverse fund types to capitalise on market growth and evolving investment trends.

"Consistency is vital when managing funds across Europe. Our skilled team ensures clients receive the same high-quality service, regardless of jurisdiction, while adapting to local nuances.

"With increased complexity in reporting and governance, operational connectivity and harmonisation are essential to meeting investor and regulatory expectations across Europe.”

How Ogier Global can help 

Ogier Global offers integrated services across European hubs, meaning our clients achieve consistent fund structuring and administration across key jurisdictions - supported by compliance and clear communication. We remain dedicated to a client-centric approach, continually investing in both service and technology to deliver tailored solutions in a rapidly changing environment.

Our fund experts are engaged daily across European fund hubs, anticipating what’s next and helping clients navigate with confidence. For more information, contact our team below.

About Ogier

Ogier is a professional services firm with the knowledge and expertise to handle the most demanding and complex transactions and provide expert, efficient and cost-effective services to all our clients. We regularly win awards for the quality of our client service, our work and our people.

Disclaimer

This client briefing has been prepared for clients and professional associates of Ogier. The information and expressions of opinion which it contains are not intended to be a comprehensive study or to provide legal advice and should not be treated as a substitute for specific advice concerning individual situations.

Regulatory information can be found under Legal Notice