Regulatory Information

Fisher Investments Ireland Limited is a private limited company incorporated in Ireland and regulated by the Central Bank of Ireland. Fisher Investments is the trading name used by Fisher Investments Ireland Limited, and by its branches in Spain and Italy. Fisher Investments Ireland Limited and its trading name Fisher Investments are registered with the Companies Registration Office in Ireland under numbers 623847 and 772424. In Ireland, Fisher Investments' registered address is: 24-26 City Quay, 3rd floor, Dublin Docklands, Dublin, D02 NY19, Ireland.

In Spain, Fisher Investments is domiciled at Calle Velázquez, 34, 6th floor, 28001 Madrid, (Spain), with Tax Identification Number W0074497I, and is registered with the Commercial Registry of Madrid (Volume 39501, Sheet 110, Inscription 1, Page M-701327) and in the official records of the Comisión Nacional del Mercado de Valores ("CNMV") (No. 126).

In Italy, Fisher Investments is registered under no. 182 on the “Elenco delle Imprese di Investimento autorizzate in altri Stati UE con succursale in Italia” kept by the Commissione Nazionale per le Societá e la Borsa ("Consob"), and is registered with the Registro delle Imprese di Milano (Registration Number and Fiscal Code: 97838750152; VAT Number: 02903080345; REA Number: MI-2726610).

With respect to its discretionary portfolio management services, Fisher Investments partially outsources aspects of the day-to-day portfolio management and trading functions to its affiliates. In particular, day-to-day portfolio strategy decision-making will be conducted by Fisher Asset Management, LLC ("FAM") and trading functions may be carried out by various affiliates. FAM is the parent company of Fisher Investments and such affiliates and is established in the USA (Delaware Secretary of State number 3936233) and regulated by the US Securities and Exchange Commission (SEC# 801-29362).

The protections of the Irish regulatory regime, including the Investor Compensation Scheme ("ICS"), apply to the activities of Fisher Investments. The ICS pays 90% of net loss up to a maximum of €20,000 in certain circumstances when an investment firm authorised by the Central Bank of Ireland goes out of business. However, such protections do not apply in relation to the services of FAM, affiliates of Fisher Investments, any custodian or bank located outside of Ireland, or to the extent a client’s assets are invested in non-Irish funds or ETFs.

This information constitutes the general views of the Fisher group of companies and do not take into account individual financial situations, needs or objectives and should not be regarded as personalised investment, legal or tax advice or a reflection of client performance. No assurances are made that Fisher group of companies will continue to hold these views, which may change at any time based on new information, analysis or reconsideration. Nothing herein is intended to be a recommendation or forecast of market conditions. Rather, it is intended to illustrate a point. Current and future markets may differ significantly from those illustrated here. In addition, no assurances are made regarding the accuracy of any assumptions made in any illustrations herein.

Not all past forecasts were, nor future forecasts may be, as accurate as others. There can be no assurances that investment returns from a particular strategy or allocation will exceed returns from another strategy or allocation.

Investing in financial markets involves a risk of loss and there is no guarantee that all or any invested capital will be repaid. Past performance neither guarantees nor reliably indicates future performance. The value of investments and the income from them will fluctuate with world financial markets and international currency exchange rates.

This website is being communicated by Fisher Investments Ireland Limited, trading as Fisher Investments.

Complaints

Fisher Investments seeks to provide a high standard of service to clients at all times. If you have a complaint about services provided by Fisher Investments or its branches or affiliates, please contact:

Head of Compliance
Fisher Investments
24-26 City Quay, 3rd floor
Dublin Docklands, Dublin
D02 NY19, Ireland

or by calling: +353(0) 1 575 6070

Summary of our procedure

Where you make a verbal or written complaint, Fisher Investments will handle your complaint in accordance with the firmโ€™s written complaints process.

Fisher Investments will acknowledge your complaint in writing within 5 business days of receiving it and will provide you with the name of a contact person in relation to your complaint.

Fisher Investments will aim to resolve your complaint within 40 business days. If your complaint is not resolved within 40 business days, Fisher Investments will inform you of the anticipated timeframe within which it hopes to resolve your complaint.

Fisher Investments will inform you in writing of the outcome of the firmโ€™s investigation within 5 business days of the completion of the investigation.

Subsequently, if you are unhappy with the firmโ€™s final response, you may refer your complaint to the Financial Services and Pensions Ombudsman (โ€œFSPOโ€). A copy of Fisher Investments complaints handling procedure is available on request. Further details in respect of FSPO can be found at this website: https://www.fspo.ie/make-a-complaint/.

Top 5 Brokers and Execution Quality (2023)

Below are the top five execution centers for each type of financial instrument from 2023 for Fisher Investments clients. Our firm provides this information annually to comply with MiFID II regulations.

Table updated 07/07/2024. Data from 01/01/2023 to 31/12/2023.

* Average Execution Score Rank: All executions for each approved broker are measured against three trading benchmarks:

  • Trade Date Open
  • Volume Weighted Average Price (VWAP)
  • Trade Date Close

Differences between average prices and benchmarks are expressed in percentage terms (difference divided by trade value) and are rolled-up by broker into a weighted average percentage difference across each of the three benchmark measures. All 29 approved brokers are ranked across the three different benchmark measures (top-rank meaning the smallest % difference from the benchmark). A weight is applied to each benchmark ranking (Trade Date Open = 70%, VWAP = 15%, Trade Date Close = 15%) and the average ranks are rolled-up into a final “Average Execution Score Rank.”

Example:

Broker X:

  • Trade Date Open Rank: 5
  • Volume Weighted Average Price (VWAP) Rank: 10
  • Trade Date Close Rank: 15
  • Execution Score Rank = (70% * 5) + (15% * 10) + (15% * 15) = 7

Execution quality is reviewed on a weekly basis by the Trading team utilizing Trade Cost Analysis ("TCA") software. A summary of the TCA is generated quarterly and reviewed in detail with the Trade Practices Committee. Any outliers are reviewed to determine what factors contributed to the execution results and if the factors were within the trader’s/broker’s control.  

PRSA Fees

For more information on PRSA fees, click here.

Investing in financial markets involves a risk of loss and there is no guarantee that all or any invested capital will be repaid. Past performance neither guarantees nor reliably indicates future performance. The value of investments and the income from them will fluctuate with world financial markets and international currency exchange rates.