Survey highlights global reach of Ireland's fund industry

Ireland’s international fund industry shows no signs of stagnation as the latest findings of the IFIA Transfer Agency Survey confirms. Irish fund administrators are servicing assets from almost 170 countries and offer support capabilities in 28 languages and 23 currencies.

More than US$2.48 trillion (€1.88 trillion) worth of assets serviced in Ireland are sourced from 167 countries across the globe, from American Samoa to Zambia. The survey included the combined assets of both Irish domiciled funds and non-domiciled funds that are administered from Ireland and named the top 10 markets of distribution. These are the UK, US, Japan, Switzerland, Netherlands, Belgium, Australia, Italy, Germany and France. Other countries where Irish funds are distributed include Sweden, Finland, Singapore, Spain, Canada, Hong Kong, South Africa, Taiwan, China and the United Arab Emirates.

Carving up the world on a regional basis, Europe proves to be the largest market accounting for 64% of the assets, followed by the US on 14% while recent growth in Asia-Pacific means this region now accounts for 9% of the assets serviced from Ireland.

The survey also shows that Ireland’s fund industry offers support capabilities in 23 currencies, including all of the world’s main trading currencies and a wide range of currencies from across the world including fast-growing emerging markets. The US$, €, £ and Yen are supported by more than 80% of transfer agents, and there is widespread support also for the Singapore, Australian, Canadian and New Zealand dollars. 

Commenting on the survey results, Gary Palmer, CEO of the IFIA said, “The expansion of Ireland as an international funds centre looks set set to continue with increased investment from mature and emerging markets combined with the emergence of UCITS as the global standard for retail funds.”

www.irishfunds.ie