Irish assets administered hits over €4 trillion mark in 2016

Assets of non-domiciled funds administered in Ireland achieved record figures in 2016, according to latest figures from the Central Bank of Ireland.

Total assets of non-domiciled funds administered in Ireland reached the €2 trillion mark for the first time.

Irish-domiciled funds also hit the €2 trillion mark taking the total value of assets under administration to over €4 trillion.

“These latest figures represent another significant milestone for the Irish funds industry and the managers we serve,” said Pat Lardner, CEO of Irish Funds.

The improved figures follow December’s announcement that the People’s Bank of China has granted an investment quota for Ireland of 50 billion yuan under the Renminbi Qualified Foreign Institutional Investors (RQFII) scheme.

The Central Bank of Ireland also revealed in December that it is accepting applications from Irish UCITS and AIFs to invest through the Shenzhen-Hong Kong Stock Connect.

“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,” said Lardner.