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Irish domiciled funds’ assets surpass €2.5 trillion

Euro_wealthAssets in Ireland-domiciled funds surpassed €2.5 trillion for the first time in May, according to figures published today by the Central Bank of Ireland.

The data shows that assets in Ireland-domiciled funds increased by 5% in the five months to May.

Total net sales in the first five months of the year reached €79.7 billion, of which €17.3bn went into exchange-traded funds.

Flows into Irish funds accounted for 31% of total net European sales for the first five months of the year.

The €2.5 trillion of assets in Irish funds at the end of May makes the republic the second largest fund domicile in Europe behind Luxembourg which had €4.16 trillion of assets at the end of May.

The total value of assets under administration in Ireland (both Ireland-domiciled fund assets and non-Irish fund domiciled assets) reached a record €4.73 trillion in March.

Irish Funds, the national association for the asset management industry, said that 5.5% of worldwide investment fund assets are now domiciled in Ireland, making the country the third largest funds centre in the world.

Pat Lardner, chief executive of Irish Funds, said that the data 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,” he said.

“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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