Ireland strengthens position as international investment hub
Ireland has strengthened its position as an international investment hub, with figures published for December by Irish Funds, the representative body for the international investment fund community in Ireland, showing record breaking net sales.
Continuing the strong performance of NAV growth and net sales since the effects of the pandemic in March 2020, December ended the year on a high with net sales of EUR72.2 billion, more than double the net sales in November. This propelled Ireland to the highest net sales, EUR245 billion for the year, across all European fund locations in 2020. Net assets closed the year at EUR3.32 trillion - the highest level ever reached.
In January 2021 alone, 27 financial firms entered or expanded their presence in Ireland bringing the total to 137 new entries or expanded offers since January last year. The primary driver behind the growth has been alternative fund managers, reflecting growing investor interest in diversifying and alternative investment products.
Irish Funds CEO Pat Lardner says: “This strong growth in Irish domiciled funds is a demonstration of the continuing success across the full range of investment product and service offerings in Ireland, which has recently been expanded to include the new Investment Limited Partnership structure. Despite the uncertainty surrounding the pandemic, confidence remains high in the ability of our industry to deliver better investment outcomes for investors.”