|Value of Funds under Management in Ireland Set to Top €2trn|
Irish Funds Industry Association chief executive said that the assets of funds domiciled in Ireland had risen almost 25% during 2014. The Irish Association’s 100-plus members are now responsible for in excess of 13,000 funds and the total value of investment funds domiciled or administered in Ireland had reached €3.8trn. The year to date total for Ireland includes a 15% rise in UCITS funds and 12% rise in QIAIF funds, bringing the total of domiciled funds to €1.9trn, of which UCITS account for €1.5trn and QIAIFs €355bn.
The Irish Funds association also said there were now over 900 fund managers from 50 different countries using Ireland with 440 managers having funds domiciled in Ireland. Ireland’s growth rate for assets under management is also keeping pace with Luxembourg, Europe’s the largest investment fund centre which is a domicile for around 3,900 funds. The Association of the Luxembourg Fund Industry (ALFI) said net assets under management had reached €3.52trn by the end of March, and had climbed to €3.54trn in April, a rise of 29% over the last 12 months.
The opinions expressed do not constitute investment advice and specialist advice should be sought about your specific circumstances.
Published on our website on Jun.15, 2015