Irish funds surpass €1 trillion mark
A record high for the industry
The net assets of Irish domiciled funds have surpassed the €1 trillion mark for the first time, according to the latest statistics from the Central Bank dated end of November 2011. Irish domiciled assets have been growing consistently since 2008 and these latest figures represent a 42% increase over November 2009. The number of Irish authorised funds also reached a new high in November by exceeding the 5,000 mark.
Irish domiciled assets increased by €26 billion or 3% in November alone with growth driven by overall net increases in the assets of both UCITS and Non-UCITS funds and positive inflows into Irish domiciled funds of €5.7 billion.
The Qualifying Investor Fund (QIF) performed particularly well with growth in assets exceeding 5% in the month of November, bringing the total net assets of QIFs to €174 billion. Irish domiciled money market funds benefitted from the continued market uncertainty with net assets in these funds increasing by almost 5% to €375 billion.
Statistical Overview - November 2011
- The net assets of Irish domiciled funds exceeded the €1 trillion mark for the first time in November 2011, representing a 42% increase since November 2009
- QIFs experienced the strongest asset growth of 5.2% in November, brining QIF net asserts to €174 billion – the highest on record
- Irish domiciled money market funds also reached a all-time high of €375 billion, up from €358 billion in October (+4.8%)
- The net assets of UCITS grew by 2.2% to €783 billion while UCITS experienced the largest net inflows of €4.6 billion during November. The net assets of Non-UCITS funds experienced inflows totalling €1.1 billion
- In UCITS, money market funds continued to experience by far the largest inflows amounting to €5.3 billion in November while UCITS equities saw net outflows of €2.4 billion. Smaller net inflows were recorded in the ‘other UCITS’ category (+€960 million), bond funds (+€736 million) and balanced funds (+23 million)
- 61 new funds and sub funds were authorised in November bringing the total number of Irish domiciled funds to a new high of 5,007
- Total assets under administration in Ireland stood at €1.8 trillion in 11,449 funds in November 2011