The recently published Lipper 17th Annual Fund Encyclopaedia reported a year-on-year increase of close to 30% in the assets serviced by the funds industry in Ireland. The Lipper Encyclopaedia highlights not only the strong growth in the number of funds and the level of assets but a significant increase of 43 new promoters (an increase of 11% from 2010) who have chosen Ireland to domicile their funds.
Below is a summary of the Lipper Encyclopaedia findings:
- Funds serviced in Ireland reached US$1,882.2 billion (1,298.2 billion euros) in total net assets as at 30 June 2011, up 28.9% from US$1,460.3 billion in 2010 and its highest level since 2008.
- The number of funds serviced in Ireland rose to 6,412 (from 6,116 last year) an increase of 5%; of which 3,404 are domiciled in Ireland and 3,008 are domiciled in other jurisdictions.
- The number of companies domiciling funds in Ireland has grown to 431 fund promoters (up from 388 in 2010). This represents a 70% rise since 2001.