Irish Funds Industry Continues Expansion

This is excellent news and the fact that both domiciled assets have reached an all time high and that fact that Irish funds industry companies now service some 43 per cent of all hedge funds is truly testament to the excellence, innovation and reach the jurisdiction provides.

Gary Palmer, Chief Executive of the Irish Funds Industry Association (IFIA)

February 23rd, 2011

TOTAL assets under administration in Ireland have reached a record high and are fast approaching the €2 trillion mark. At the same time it has been revealed that the Irish funds industry is now credited with servicing an estimated 43 per cent of the world’s hedge fund assets.

Figures from the Central Bank and IFIA reveal that total assets under administration in Ireland hit an all time high of €1.88 trillion at the end of 2010 – up from €1.4 trillion at the end of 2009.

Recently published figures from the Central Bank reported that the value of Irish domiciled investment funds had reached an all high time of €964 billion as at the end of December – up nearly a third (29 per cent) on the same time last year from 748 billion. Some €914 billion worth of assets held in non Irish domiciled funds is serviced in Ireland.

It has also been highlighted that the Irish funds industry now services a whopping 43 per cent of total assets held in the world’s hedge funds – up from an already impressive 42 per cent, according to analysis of the latest available report from HFM Week.

Gary Palmer, Chief Executive of the Irish Funds Industry Association (IFIA), said: “This is excellent news and the fact that both domiciled assets have reached an all time high and that fact that Irish funds industry companies now service some 43 per cent of all hedge funds is truly testament to the excellence, innovation and reach the jurisdiction provides.

"This growth continues to highlight the opportunities, solutions and efficiencies Ireland offers to the international funds industry."

Employing more than 11,000 industry professionals Ireland is one of the world’s leading fund domiciles and administration centres, servicing assets in over 11,000 funds.

More than 850 fund promoters from over 50 countries use Ireland as an international fund hub.

FOR FURTHER INFORMATION CONTACT:
Angela Madden
Marketing & Communications Manager
IFIA
angela.madden@irishfunds.ie
+ 353 1670 1077