The annual statistical report, Trends in the UCITS Market, from the European Fund and Asset Management Association (EFAMA) reveals that Ireland bucked the trend with most domiciles actually facing significant outflows of UCITS during 2011
Elsewhere, France, Italy and Luxembourg suffered the biggest losses, with €91bn, €30bn and €24bn respectively. In the fourth quarter alone, Ireland attracted an impressive €26bn in new monies.
EFAMA’s figures confirm that Ireland continues to be the fastest growing UCITS domicile in the world and is rapidly outpacing all other domiciles in terms of growth. Over the past 11 years the net assets of Irish UCITS have grown more than 500% and Ireland’s UCITS market share has increased to 14.5% from 11.5 % at the beginning of 2011.
Ken Owens, Chairman of the Irish Funds Industry Association, said, “We expect, that as the world moves to embrace further regulation such as AIFMD and FATCA, that Ireland will continue to be the natural choice for fund managers. This will largely be as a result of Ireland’s robust regulation; its regulation-ready product solutions with a proven track record and widest distribution capabilities; and its open environment with information exchange agreements in all of its tax treaties and a policy of cooperating in matters of tax transparency.”
Ireland administers approximately 40% of the world’s alternative investments, has seen QIF assets grow more than 20% in 12 months and 35% in 2010. The domicile services a total of almost €1.9 trillion in assets, an increase of more than 30% in the last two years.
* JP Morgan has been voted into top place as the most rated trustee in the Dublin market as ranked by 33 different fund promoters. The 2011 Dublin Trustee & Custody Survey assessed banks on 23 different aspects of their service and scored out of a maximum of 10 for each. BNY Mellon put on another strong performance coming close behind in the trustee section and taking join first place with HSBC in the global custody section. Northern Trust was voted in 4th place in the trustee section and third place in the custody category.
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