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Irish Funds set to hit EUR2 trillion following record year of inflows


Net assets in Irish domiciled funds increased by EUR317 billion during 2014, according to Pat Lardner, Chief Executive of Irish Funds. 

Speaking at Irish Funds’ Annual Global Conference in Dublin, Lardner, told representatives of the global funds industry that Ireland’s assets of domiciled funds rose by almost 25 per cent during 2014. 

Lardner also confirmed that in the first three months of 2015, assets have further grown by EUR234 billion, representing a rise of 14 per cent. Net assets domiciled in Ireland now stand at nearly EUR2 trillion.

This year’s Conference was opened by recently appointed Chairman of the Association, Tadhg Young.  Over thirty speakers and panelists addressed topics ranging from the EU’s plans for Capital Markets Union to Ireland’s vision for its International Financial Services Sector and our role in respect of Asia.
Lardner, Irish Funds Chief Executive, said: “These latest figures reflect a record period of growth and represent a significant milestone for the Irish Funds industry. By working closely with the Irish government, the Central Bank of Ireland and the wider funds community, we are together continuing to build one of the most competitive locations for the regulated funds industry in Europe and the world. We will continue to work on behalf of our members and advocate effectively in order to make our infrastructure as attractive as possible and increase the breadth of services and fund structures Ireland can offer the international funds industry. Ireland is well on course to be considered the number one choice for funds globally.”
Also speaking at the Conference, Minister of State at the Department of Finance, Simon Harris TD, added: “The considered and comprehensive programme of this year's Conference is a credit to Pat and his team. The depth of expert speakers and range of topics is perfectly in keeping with the latest developments in the Funds' Industry and wider global trends. Funds are and will continue to be a keystone of Ireland's International Financial Services' Sector. As Minister with responsibility for this area I will continue to engage with Industry to advance the objectives of the Irish Government's IFS2020 Strategy.
A robust and resilient Funds' industry is essential to hi-skill and hi-value employment growth. Government must be attuned and responsive to opportunities that ensure Ireland continues to be a leading international funds' domicile. I welcome informed proposals that share this goal and look forward to working with Irish Funds and others on a range of projects to do just that.”
Regarding Asia, Minister Harris said: “My message to this conference is clear. We want Ireland to be Asia’s and of course China’s gateway to Europe for financial services investment.”
The year to date has seen a continued rise in assets in Ireland, including a 15 per cent rise in UCITS and 12 per cent rise in QIAIF funds. This brings total domiciled funds to a figure of EUR1.9 trillion, of which UCITS account for EUR1.5 trillion and QIAIFs EUR355 billion. 
This follows on from a very strong 2014 during which all domiciled assets grew 24 per cent over the course of 12 months, and a year in which Irish domiciled ETFs accounted for 50 per cent for all European domiciled ETFs and 16 per cent of all UCITS funds. The strength of Ireland in Europe has continued into 2015, as of the end of Q1 there has already been 64 new sub funds launched and EUR46 billion of inflows to funds.

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