The assets of Irish domiciled investment funds have reached a record high and passed the 1 trillion mark, according to the Central Bank of Irelands (CBI) monthly statistical update. The figures show the total Irish domiciled assets hit an all time high of 1,008 billion as at the end of November 2011 – an increase of 40% on the assets held in November 2009, from 711 billion.
Gary Palmer, chief executive of the Irish Funds Industry Association (IFIA), said: “Reaching and exceeding the 1 trillion 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.”
Irish funds recorded the highest level of net inflows in Europe in the first half of the year, revealed a separate report from the European Fund and Asset Management Association (EFAMA). According to the report, Ireland saw net inflows of 39 billion in the first six months of 2011 some 7 billion more than the next closest domicile. This report also noted that Irelands UCITS market share has increased to 13% compared to 11.5% at the beginning of 2011.
On the alternative side, managers gearing up for AIFMD are rapidly turning their sights to Ireland with figures for its AIFMD ready Qualifying Investor Fund (QIF) soaring, said the IFIA in a statement.
The figures from the Central Bank also show that the number of QIFs has reached an all time high of 1,355 with assets also reaching a new peak, 173 billion in November. Ireland, which already administers nearly 40% of the worlds alternative investments, has seen QIF assets grow in excess of 20% in the last 12 months, said the IFIA.
Ken Owens, chairperson of the IFIA said: “This record success for Ireland in terms of both alternative investments and UCITS demonstrates that Ireland is the fund managers’ domicile of choice, providing solutions to all aspects of the funds industry.”
(JDC)