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Irish funds sector cements its place

Monday, September 01 12:33:14

There was a substantial rise in the number of mutual funds registered in Ireland between the end of June 2002 and the same period this year, latest figures from Lipper Europe showed today.

Luxembourg and Ireland both showed an increase of over 300 products with Ireland now having nearly 2,000 products.

Comparing European market shares on the basis of assets under management (AuM), the rankings substantiated the role of Luxembourg as the key domicile in Europe. It owned more than 35pc of the assets invested in mutual funds as the issuer country. The U.K. was in second place, with over 15pc market share, followed by the second international fund hub: Ireland.

Parallel to the growth in numbers of products, Luxembourg and Ireland were the domiciles that were able to expand their portion of the European market best, Lipper said.

Lipper's Launches, Liquidations and Mergers in the European Mutual Fund Industry: Q2 2014 report shows that during Q2 2014, 518 funds were launched in Europe.

The quantity of newly launched funds for second quarter 2014 was nearly 20pc higher, compared with the number of launches for Q2 2013 (432).

Compared with the peak in 2011, the number of newly launched products for Q2 2014 showed a decrease of around 38pc.

Q2 2014 also saw the number of fund mergers decline significantly to 257 - a decrease of 28pc from 355 in Q2 2013.

The period witnessed the launch of 518 funds: 183 equity funds, 140 bond funds, 114 mixed-asset funds, 74 "other" funds, and 7 money market funds.

During the same period 402 funds were liquidated: 133 equity funds, 76 bond funds, 80 mixed-asset funds, 96 "other" funds, and 17 money market funds.

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