Irish funds recorded the highest level of net inflows in Europe in the first half of the year, reports the European Fund and Asset Management Association (EFAMA).
These latest statistics from EFAMA reveal that Ireland saw net inflows of €39bn in the first six months of the year, which puts it at the top of the league by some €7bn.
The most impressive gains for Ireland occurred in the second quarter of the year when net inflows totalled €26bn, representing a growth of 1.5% during the period. These latest figures mean that Ireland’s market share has increased to 13%, compared to 11.5% in 2010.
The Irish Funds Industry Association (IFIA) responds to this good news by saying the statistics are not altogether surprising as Ireland “has been synonymous with cross-border UCITS since their inception under the 1985 UCITS Directive. Over the past 10 years the net assets of Irish UCITS have grown by 422% – an unbeaten track record.”
EFAMA statistics to end 2010 show that Ireland has remained the fastest growing of the major cross-border UCITS domiciles. Over the course of that year, net assets of Irish UCITS grew by 27%. Assets under administration grew to a record high of €1.87tr in 2010 - up from €1.4tr at the end of 2009.
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