Ireland’s funds and asset management industry has surpassed €4.3trn AuM at end-March 2024, a 15 per cent increase year-on-year, the Irish Funds Industry Association (Irish Funds) has revealed.

The increase reflects continued growth across a range of fund types and strategies, including Ireland’s ETF offering which currently stands at €1.24trn AuM, 70 per cent of the European market, Irish Fund added.

At its 25th Annual Global Fund Conference Inflection Point: Ireland and Innovation, held today in Dublin, policymakers, regulator and industry leaders highlighted innovation as a driving force in Ireland’s success, including the ongoing evolution of private markets, with the launch of European Long Term Investment Funds (ELTIFs) following recent changes by the Central Bank of Irland, and the growth of Investment Limited Partnerships, now numbering more than 50, after the overhaul of the partnership regime in Ireland in 2021.

Additionally, Ireland has also emerged as a leader in sustainable finance, being home to 1.664 Article 8 funds with around €1.2trn AuM and 159 Article 9 funds with around €30bn.

Irish Funds CEO, Pat Lardner, said: “The Irish funds and asset management industry’s continued growth highlights the expertise and stability of Ireland’s asset management landscape, buoyed by constant innovation.

The growth in sustainable finance and establishment of the ELTIF framework are testament to this. Facilitating investment into the real economy to support climate transition, fund businesses and build the EU’s capital markets is a key priority. This requires us to innovate further to develop Ireland’s offering to enable investments in long-term assets and projects which are aligned with both domestic and EU policy."

This article was first published on our sister website, Insurance Asset Management.

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