Irish domiciled funds’ assets surpass EUR2.5tn

According to data from Central Bank of Ireland (CBI), as end of May, assets in Irish domiciled funds have seen an increase in growth that surpassed EUR2.5 trillion. This represents growth of 5 per cent in Irish domiciled assets in the first five months of the year.

For the first five months of the year, total net sales into Irish domiciled funds reached EUR79.7 billion, of which EUR17.3 billion has been into ETFs - this follows a record-breaking year for net sales in 2017, the Bank writes.

“As per figures released by European Fund and Asset Management Association (EFAMA) last week, this equates to 31 per cent of all the total net sales in European funds for the first five months of the year.”

The Bank writes: “Given the strong performance of Irish domiciled funds, the total value of assets under administration (AUA) in Ireland (both Irish domiciled fund assets and non-Irish fund domiciled assets) reached new heights, now standing at EUR4.73 trillion (March 2018). These figures reflect the underlying development of the fund industry in Ireland.

“Today, Ireland is the domicile for 5.5 per cent of worldwide investment fund assets, making it the third largest centre in the world. This growth comes as the Irish Government continues to support the industry in delivering a responsive business and regulatory environment for the wider investment community. This work remains a key part of the government’s International Financial Services 2020 strategy.”
Pat Lardner, Chief Executive at Irish Funds, says: “The data from the CBI reflects the strong attractiveness of the Irish funds industry. The significant growth in assets in Irish domiciled funds that we have seen in the last two quarters confirms that Ireland is at the forefront of global investment flows. Our global reach, innovative solutions and gateway to Europe enable us to continue positioning Ireland as the key location for globally distributed investment funds.”

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Beverly Chandler
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