markets & strategies
Deposits in offshore accounts and funds fell by 2.1% to E3,613bn, following poor market performance, according to research conducted by Datamonitor. Michelle Gorman, financial analyst at Datamonitor, said: "Continuing stock market contractions are partly to blame, having wreaked havoc on mutual fund portfolio values. There also has been increasing pressure on offshore centres to step up anti-money laundering legislation." In addition, when choosing an offshore account, proximity to home is a strong factor. European clients accounted for 84% of all deposits in Dublin, 72% in the Isle o...
To continue reading this article...
Join Professional Adviser for free
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes