Irish funds’ net assets up 20 per cent YTD to new high of EUR2.925 trillion
Irish Funds has announced total net assets stand at a record EUR2.925 trillion, according to latest data to end September from the Central Bank of Ireland (CBI).
Irish Funds says continuing strong flows highlight the ongoing importance of access to EU domiciled funds for UK and global investors. With assets in both UCITS and AIFs up 20 per cent to EUR2.19 trillion and EUR735 billion respectively, there is broad use of regulated funds by both institutional and retail investors.
Net sales into Irish Funds also more than doubled over the first nine months of 2019 to EUR202 billion, up from EUR93.7 billion for the full FY2018, with EUR180 billion flowing into UCITS and EUR22 billion into AIFs.
Ireland also continues to dominate as the European ETF domicile of choice with c.60 per cent of ETF assets and the majority of European ETF net sales going into Irish domiciled ETFs.
Reflecting on growth to date, Pat Lardner (pictured), Irish Funds CEO, says: “Investors continue to save and make provision for their future, irrespective of the geo-political challenges we read about every day. Today’s results re-confirm Ireland’s key role in supporting savings and investment in both an EU and wider context as well as our position as the fastest growing European fund domicile over recent years - a success we are committed to build on. Providing the link between global investors and the wide range of investment expertise they need to access also channels investment into economies and communities across Europe and beyond.
“As 2020 approaches, we look forward to the updated Investment Limited Partnership legislation being passed to ensure ongoing competitiveness of Irish Funds and the further development of European investment funds industry as an important source of financing for the European economy.”
According to the latest Monterey Ireland Fund Report (June 2018), 191 UK Managers represent the largest cohort of Irish fund product managers at 36 per cent with over 1,348 Irish funds and cEUR678 billion AUM (26 per cent).
Irish Funds’ Annual UK Symposium in London builds on an active programme of engagement in key fund markets including recent roadshows in Sweden, Singapore, Japan, Hong-Kong, USA and Canada.