Dublin
27 February 2017
Reporter: Stephanie Palmer

Record-breaking 2016 for Irish funds


Assets in Irish-domiciled funds reached record highs in 2016, passing the €2 trillion mark for the first time.

Data from the Central Bank of Ireland shows that at the end of December 2016, net assets in Irish-domiciled funds reached €2.09 trillion. This marks a 10 percent increase on the total at the end of 2015, which reached €1.9 trillion.

Assets of non-domiciled funds administered in Ireland also reached a record €2 trillion, bringing the total value of assets under administration to €4.1 trillion.

Net sales across all fund types reached €139 billion, the highest figure since data for this became available seven years ago.

Ireland has seen year-on-year increases in the number of funds and sub-funds domiciling in the country since 2009. The new data shows another increase, from 6,201 at the end of 2015 to 6,470 at year-end 2016.

Pat Lardner, CEO of the Irish Funds Industry Association, said: “These latest figures represent another significant milestone for the Irish funds industry and the managers we serve. It reflects the consistent and continuing attractiveness of Ireland, the third largest investment fund location globally.”

“By working closely with the Irish government, the Central Bank of Ireland and the wider funds community, we have built, and continue to develop, a location which is highly competitive and whose regulated funds offering is one of the most compelling globally. We will continue to work on behalf of our members and our partners in the global asset management industry to deliver solutions in an environment which has proven credentials of service excellence.”

According to Irish Funds, some 50 percent of European exchange-traded funds are serviced in Ireland, along with around 40 percent of hedge funds, globally.

More Industry news
The latest news from Asset Servicing Times
Join Our Newsletter

Sign up today and never
miss the latest news or an issue again

Subscribe now
DTCC proposes changes to “modernise” its US equity market structure
23 January 2018 | New York | Reporter: Jenna Lomax
The proposals look to provide better access to shortened settlement processing options, for both pre-and post-trade transactions, while improving straight through processing
AIMA COO to create Canadian alternatives trade association
23 January 2018 | Toronto | Reporter: Jenna Lomax
Former AIMA COO James Burron is setting up an independent not-for-profit Canadian financial association
AIMA publishes GDPR implementation guide
23 January 2018 | London | Reporter: Jenna Lomax
The guide aims to help members understand and comply with new EU data protection rules that come into effect on 25 May
S&P reaffirms OCC’s AA+ rating
19 January 2018 | Chicago | Reporter: Jenna Lomax
S&P has reaffirmed OCC’s financial strength rating of “AA+/stable”
National Settlement Depository implements API
19 January 2018 | Moscow | Reporter: Jenna Lomax
The National Settlement Depository has applied the application programming interface to its online banking services
BNY Mellon sees asset servicing fees growth
18 January 2018 | New York | Reporter: Zsuzsa Szabo
BNY Mellon’s asset servicing fees increased 6 percent year-over-year
Societe Generale Securities Services and OFI Asset Management have executed the first transactions via the IZNES platform on the Paris market
More Industry news