cloudfront

Irish Fund Industry's Value To Top 2.3 Trillion This Year

08 Mar 2013


Immigration News

The value of Ireland's fund industry will pass the €2.3 trillion mark for the first time in 2013 despite a challenging regulatory and economic backdrop, according to BNY Mellon.

The bank's head of offshore, Rachel Turner, has also predicted that Ireland will retain its position as a global leader in fund administration.

"We are still seeing a huge appetite from investors to place money in Ireland," said Ms Turner. She added that large chunks of UCTIS asset flows last year came through Irish vehicles.

"This is down to the fact that Ireland is still seen as a good place to do business from a funds perspective, despite the financial crisis," she said.

BNY Mellon is the largest funds administrator in Ireland, according to Monterey Insight, based on total net assets of $401bn for fund administration services across domiciled and non-domiciled funds.

State Street is second with $356bn and JP Morgan third with almost $240bn.

Ms Turner added increasing regulation posed significant challenges to the sector, but Ireland could use its EU presidency to help shape legislation and position the Irish funds industry for future growth.

"One of the greatest challenges facing the Irish funds industry in 2013 is increased regulation at both a global and local level," she said.

"How quickly the industry in Ireland adapts to these changes will be critical to maintaining the upward growth trajectory the industry has enjoyed."

She added that Ireland needed to start targeting funds from further afield.

"Ireland needs to begin to target emerging distribution markets such as South America and the Middle East," she said.

Source: http://www.independent.ie/business/irish/irish-fund-industrys-value-to-top-23-trillion-this-year-29106320.html


QUICK ENQUIRY

  •  I agree to the Privacy Policy
Thank you so much. We are pleased to associate ...

Rxxxxxx xxxxxx
Canada

CANADA VISA ( FEDERAL ...

Your team was very helpful in following up ...

Jxxxxxxxx xxxxxxxx
Australia

AUSTRALIAN VISA...

Thank you very much for all the guidance ...

Vxxxxxx xxxxxxx
Australia

AUSTRALIAN VISA...

Opulentus has been very helpful. My case officers ...

Vxxxxxxx xxxxxxxxxxxxxN
Australia

AUSTRALIAN VISA...

I am very glad to choose Opulentus. Thanks to ...

Pxxxxxx xxxxxxR
Australia

AUSTRALIAN VISA...

The team at Opulentus has been very helpful ...

Lxxxxxxx xxxxxx
Australia

AUSTRALIAN VISA...

I thank you very much for all the ...

Pxxxxxxxx xxxxxx
Australia

AUSTRALIAN VISA...

I am very happy and pleased with the ...

Bxxxxxxx xxxxH
Australia

AUSTRALIAN VISA...

Thanks a lot Opulentus for your patience and ...

Rxxxxxx xxxxx
Australia

AUSTRALIAN VISA...

Two Year Canadian Dream One day when I woke ...

Sxxxxx xxxxxL
Canada

CANADA VISA ( FEDERAL ...

View All