Total assets domiciled in Irish funds reached an all-time high of €4tn at the end of 2021, representing annual growth of 22.5% with 42.5% growth in exchange traded funds, according to the Irish Funds Industry Association (IFIA).
The group said the growth had been assisted by a significant increase in the number and breadth of firms operating in Ireland, which is now home to 6% of investment fund assets worldwide and almost 19% in the EU, making it the third largest centre in the world.
The total number of Irish-domiciled funds was 8,450 in March, with IFIA CEO Pat Lardner saying that the industry has proven resilient during the pandemic while making an increasing contribution to the economy at all levels.
“Ireland’s funds and asset management industry is a world leader in a highly competitive, global industry which is answering the call to assist in addressing the challenges of today, whether that be in relation to climate or post pandemic recovery," said Lardner.
“We are also firmly focused on the future in terms of the tools and skills we need to maintain and build upon a reputation for trust, capability and innovation to support the next generation of savers.”
In Association with
IFIA's 23rd annual Global Funds Conference opened in Dublin on Tuesday following the publication of a white paper on the future of crypto assets in Irish regulated funds.
The conference will focus on the opportunities and challenges facing funds and the asset management industry as it emerges from the pandemic, with a number of panel discussions on the rise of private assets, leveraging fintech, the evolution of the workplace, and crypto assets.
The white paper, Crypto Assets: opportunities, risks and future possibilities for regulated investment funds in Ireland, includes a plan to take advantage of opportunities in crypto using Ireland strength as a investment fun and technology hub.
The paper calls for regulatory clarity on the appropriate extent and nature of exposure for funds used by institutional investors; engagement between the Central Bank and its counterparts in Europe and the EU, and for the government to create a taskforce on tokenisation.
(Pic: Getty Images)
