Monthly figures from the Central Bank of Ireland revealed that the value of Irish domiciled funds had reached an all time of €1,008bn at the end of November last year. This compares with €711bn at the end of November 2009.
A report from the European Fund and Asset Management Association also revealed that Irish funds recorded the highest level of net inflows in Europe in the first half of the year, with €39bn in the first six months, €7bn more than the next closest domicile. EFAMA’s report also noted Ireland’s Ucits market share increased to 13% compared to 11.5% at the start of 2011.
Figures from the Central Bank also show the number of Qualifying Investor Funds (alternative funds) are growing steadily, reaching an all-time high of 1,355 with assets of €173bn by last November.
Gary Palmer, chief executive of the Irish Funds Industry Association, said: “Reaching and exceeding the €1trn mark is a significant industry milestone and is truly testament to the excellence, innovation and reach of Ireland as a partner to the international investment fund industry.”
