Assets hit $1.9trn, the 17th annual study found – the highest level recorded since 2008.
“While money market funds remain the largest asset class domiciled in Ireland, this year’s industry growth has also been strongly supported by equity and bond products,” said Ed Moisson, the head of UKI and cross-border research at Lipper.
“Additionally, non-domiciled funds serviced in Ireland have grown for the first time in three years, underlining the recovery that the industry has enjoyed.”
The number of funds also increased during the period, from 6,116 to 6,412; of which 3,404 are domiciled in Ireland and 3,008 are based in other jurisdictions.
Companies domiciling funds in Ireland grew to 431, representing a 70% rise since 2001.
Other key findings:
- Among the largest fund promoters, BlackRock accounts for assets under management of about $240bn, followed by Pimco on $90bn and Goldman Sachs with $80bn.
- BNY Mellon maintained the largest market share for assets under administration, while State Street took first place in the table of fund custodians.
- Dillon Eustace and Pricewaterhouse Coopers head the legal advice and auditing tables respectively.
