Irish-domiciled funds’ assets pass €2.5trn threshold

The Irish asset management body Irish Funds has reported that assets under management of Irish-domiciled funds have soared to more than €2.5trn at the end of May 2018 with a 5% growth observed over the five first months of the year.

The data provided by the Central Bank of Ireland suggests total net inflows poured into Irish-domiciled funds reached €79.7bn between January and May 2018, of which €17.3bn has been into ETFs.

The European fund and asset management association (Efama) has estimated that Irish funds’ net sales represented 31% of all the total net sales in European funds for the first 5 months of 2018.

Total value of assets under administration in Ireland – including both Irish-domiciled fund assets and non-Irish domiciled fund assets – stood at €4.73 trn as at 31 March 2018.

Commenting on the figures, Pat Lardner, chief executive at Irish Funds, said: “The data from the CBI 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. Our global reach, innovative solutions and gateway to Europe enable us to continue positioning Ireland as the key location for globally distributed investment funds.”

According to Irish Funds, Ireland is home to 5.5% of worldwide investment fund assets.

ABOUT THE AUTHOR
Adrien Paredes-Vanheule
Adrien Paredes-Vanheule is deputy editor and French-Speaking Europe Correspondent for InvestmentEurope, covering France, Belgium, Geneva and Monaco. Prior to joining InvestmentEurope, he spent almost five years writing for various publications in Monaco, primarily as a criminal and financial court reporter. Before that, he worked for newspapers and radio stations in France, in particular in Lyon.

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