Irish-domiciled funds up 40% to top €1tn for first time

IRISH-domiciled funds have exceeded €1 trillion for the first time, an increase of 40% on assets held here in 2009.

The Central Bank of Ireland reported that the value of these funds reached an all-high time of €1,008 billion as at the end of November 2011, up 40% from €711bn two years previously.

Irish Funds Industry Association chief executive Gary Palmer said that reaching this milestone is a testament to the excellence of the Irish funds industry.