Irish domiciled funds near €3 trillion
Net assets domiciled in Ireland reached €2.925 trillion ($3.19 trillion) at the end of September, according to data from the Irish Funds Association. The Sept. 30 number is up more than 20% from the end of 2018 and 54% since 2015, before the Brexit referendum. The total number of funds stood at 7,531 as of June 30; a number for Sept. 30 was not provided.
About 75% of the total assets were invested in UCITs with the balance in alternative investment funds. The IFA didn't specify the assets held by institutional and retail investors but noted that there was broad use of Irish domiciled funds by both groups.
Net inflows were €202 billion in the first nine months of the year, up significantly from €93.7 billion in net inflows during the same period in 2018.
The association cited demand for EU domiciled funds from investors both from the U.K. and globally. While the U.K.'s split from the European Union was not specifically cited as a reason for the rise in both assets and funds, Irish Funds CEO Pat Lardner said, "Investors continue to save and make provision for their future, irrespective of the geopolitical challenges we read about every day."