BNY Mellon sees huge Irish growth

INTERNATIONAL fund management group BNY Mellon said the amount of funds under administration in Ireland it controls has grown dramatically to more than $500 billion (€350bn).

Levels have shot up by over 50% since the start of 2010 and are ahead by 8% since the start of 2011.

BNY Mellon Asset Servicing is the largest fund administrator in Ireland, according to Lipper’s Ireland Fund Encyclopaedia in November 2010.