Ireland funds industry grows

Total assets under administration in Ireland grew to €1.88trn at the end of 2010, up from €1.4 trillion at the end of 2009, latest figures from the domicile’s central bank and funds industry association reveal. A rise in hedge funds servicing on the island is thought to have boosted the funds industry as a whole, while other data published recently shows evidence of its growth. Earlier in the month, it emerged the value of Irish-domiciled funds hit €964bn at the end of December 2010, an increase of almost a third on the previous year. Meanwhile, non-Irish domiciled funds serviced i...