During the year to 30 June a further 30 funds were domiciled in Ireland, bringing the total number to 388. Over the long term, growth in the jurisdiction has been very steady, with a 31% increase over five years and a 63% rise over ten years.
The amount of assets managed has also steadily increased reaching $1,460.3bn (€1,192.2bn) in total net assets as at 30 June 2010, up 7.2% from $1,361.7bn in 2009. In addition, the number of funds serviced pushed up slightly to 6,116 from 6,098 last year.
BNY Mellon has maintained the largest market share for fund assets, with $270.4bn under administration, while State Street International ranked second. The same positions are held for assets under custody, with JPMorgan similarly in third position.
BlackRock’s acquisition of Barclays’ asset management business has made it the largest fund promoter of Irish-domiciled funds, with assets under management of $187.4bn, followed by Goldman Sachs ($70.3bn). The appetite for bond funds means that PIMCO now ranks third (US$48.8bn), just ahead of HSBC (US$48.6bn).
