Record year for Irish funds

Annual data released by the Central Bank of Ireland for 2016 showed record levels of assets and net sales in Irish domiciled funds, as well as record levels of assets in non-domiciled funds administered in Ireland.

The data show that assets in Irish-domiciled funds ended the year at a record €2.1 trillion. Irish funds are distributed globally, and the record level of assets was also driven by record levels of net sales. 2016 net sales across all fund types stood at €139bn – the highest in seven years since this data became available.

Pat Lardner, chief executive officer of Irish Funds, 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.”