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IFIA announces record net assets in Irish funds

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The Irish Funds Industry Association (IFIA), has announced record net assets in Irish funds in 2014 across all fund structures at the industry body’s Annual UK Symposium in London.

With the year still not completed, Ireland has continued to show it is the leading European jurisdiction for domiciling funds. Assets domiciled in Ireland in 2014 have reached a new high of EUR1.6 trillion[1], a growth of 19% in the first nine months of the year, this includes a 22% growth in UCITS assets and a 27% growth in QIAIF assets.

 
This record number of assets under management in Ireland has been aided by over 500 funds launched in Ireland up until the end of September 2014. Total net inflows into both new funds and existing funds are exceptionally strong having more than doubled since the same period in 2013. This year has already seen inflows of EUR113bn, of which EUR93bn have been in to UCITS and EUR20bn in AIFs. 
 
Commenting on the latest numbers, Pat Lardner, CEO of the Irish Funds Industry Association, says: “These figures are testament to the success of asset managers who have used Ireland to domicile their funds. The combination of regulatory engagement, strong financial services support and competitive fund structures mean it is difficult to not consider Ireland when wanting to access European markets.
 
“The numbers out today, with still three months of the year left to report, confirm Ireland’s position as a leading jurisdiction for the funds industry. Now we have to continue working with all stakeholders in Ireland to ensure that 2015 sees a continued growth in asset inflows by ensuring Ireland is the best place to domicile funds for international distribution.”

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