New data reveals record breaking year for Irish funds27 February 2017
Annual data released by the Central Bank of Ireland for 2016 showed record levels of assets and net sales in Irish domiciled funds, as well as record levels of assets in non-domiciled funds administered in Ireland.
The data revealed that assets in Irish domiciled funds ended the year at a record €2.1 trillion. Irish funds are distributed globally, and the record level of assets was also driven by record levels of net sales. 2016 net sales across all fund types stood at €139 billion – the highest in seven years since this data became available.
It demonstrates considerable growth for those managers using Ireland for their funds and the industry generally - in the five years between 2011 and 2016, the net assets held in Irish domiciled funds has doubled; an increase aided by year on year increases in the number of funds (including sub funds) locating in Ireland.
Mirroring the record-breaking performance of Irish domiciled funds, assets of non- domiciled funds administered in Ireland also reached the €2 trillion milestone bringing the total value of assets under administration to €4.1 trillion. The range of services provided to funds in Ireland are directly supported by 14,000 highly skilled professionals throughout the country and the continuing flow of highly educated and flexible young people.
This exceptional growth comes soon after the announcement of enhanced access to Chinese investors with the award of a RQFII quota of RMB 50 billion and the opening of Hong Kong Shenzhen Connect to Irish domiciled funds.
Ireland has firmly established itself as a leading destination for alternative investment funds, servicing more than 40 per cent of hedge funds globally and more than 50 per cent of all European ETFs. Whether ETFs, MMFs or alternative UCITS, Ireland boasts product and servicing expertise capable of accommodating any fund type.
Commenting on the news, Pat Lardner, CEO of Irish Funds, said:
“These latest figures represent another significant milestone for the Irish funds industry and the managers we serve. It reflects the consistent and continuing attractiveness of Ireland, the third largest investment fund location globally. By working closely with the Irish government, the Central Bank of Ireland and the wider funds community, we have built, and continue to develop, a location which is highly competitive and whose regulated funds offering is one of the most compelling globally. We will continue to work on behalf of our members and our partners in the global asset management industry to deliver solutions in an environment which has proven credentials of service excellence.”
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