New statistics in the latest quarterly report from the European Fund and Asset Management Association (“EFAMA”) show that net inflows of EUR 39 billion were made into Irish domiciled funds in the first six months of 2011.

Overall growth in assets in Irish fund structures during the first six months amounted to EUR €7 billion, or 18% more than the next closest European domicile.

This growth is all the more significant as all other major domiciles experienced decreases in net assets during the second quarter of this year (with total UCITS net assets down 0.5%) but Ireland saw net inflows of EUR 26 billion during this period.

These inflows represent overall growth of 1.5% in assets in Irish domiciled assets during the period and accordingly Ireland remains the fastest growing of the major cross-border UCITS domiciles.