Ireland sees fund sales double

The Irish funds industry has seen net sales double in less than a year.

€202 billion worth of net sales took place between the start of 2019 and the end of September, compared to €93.7 billion for the full 2018.

Irish Funds, the country’s trade body, said at its 7th Annual UK Symposium that total net assets under management (AUM) stand at a record €2.925 trillion. The figure is sourced from Central Bank of Ireland data.

Assets in both Ucits-regulated funds and alternative investment funds were up 20% to €2.19 trillion and €735 billion, respectively.

Irish Funds says Ireland also dominates Europe as a centre for basing exchange-traded funds, with around 60% of AUM.

Pat Lardner, Irish Funds chief executive, said: “Investors continue to save and make provision for their future, irrespective of the geo-political challenges we read about every day.”

©2019 funds europe

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