Funds industry may grow by $1tn

The Irish funds industry could grow by another $1tn (€734m) and add up to 10,000 jobs over the next six years, according to a new report by the consultancy firm, PricewaterhouseCoopers.

There are currently €2.5tn of funds under management in this country, employing roughly 20,000 people.

“Assets under management in Ireland have the potential to grow to €3.5tn by 2020 if the industry remains competitive, develops strong connections with emerging new funds centres, and continues to market itself positively.