Irish domiciled funds reach €1trn

The assets of Irish domiciled investment funds have reached a record high and passed the €1 trillion mark, according to the Irish Funds Industry Association.

Figures from the Central Bank report the total value of Irish domiciled investment funds up 40% from the end of 2009, at €1,008bn at end November 2011.

Irish funds recorded the highest level of net inflows in Europe in the first half of the year. Data from the European funds association EFAMA indicated net inflows of €39bn in the first six months of 2011 – some €7bn more than the next closest domicile. Ireland’s UCITS market share increased to 13% compared to 11.5% at the beginning of 2011.

On the alternative side, managers gearing up for AIFMD are turning their sights to Ireland with figures for its AIFMD-ready Qualifying Investor Fund (QIF) soaring. Central Bank figures show the number of QIFs reached a high of 1,355, with assets also at a peak of €173bn in November.

Ireland, which administers around 40% of the world’s alternative investments, has seen QIF assets grow in excess of 20% in the last 12 months. Ireland’s funds industry now services over 11,000 funds, and more than 895 fund promoters from over 50 countries use Ireland as an international fund hub.

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