Fund assets serviced in Ireland rose by 2.3% to reach $1,926.5 billion at the end of June 2012 (up from $1,882.2 billion last year), according to research company Monterey Insights latest Ireland fund survey.
Irish domiciled funds represented $1,444.4 billion, up from $1,396.1 billion in June 2011. The total number of sub-funds reached 6,715 (from 6,412 the previous year) of which 3,673 are domiciled in Ireland.
In the research Monterey Insight revealed the market shares of all service providers in Irelands fund industry.
BNY Mellon topped the list of fund administrators in terms of total net assets under administration (AuA) with $400.7 billion, followed by State Street with $356.2 billion and J.P. Morgan with $239.6 billion of AuA.
Topping the list of custodians was State Street with net assets under custody (AuC) of $367.5 billion, followed by BNY Mellon with AuC of $339.7 billion and J.P. Morgan with AuC of $249.8 billion.
Dillon Eustace ranked number one in the survey for legal advisers in Ireland, offering legal advice to 968 funds, followed by Maples & Calder with 954 funds and Matheson with 685 funds.
PricewaterhouseCoopers was the largest auditor with 2,425 funds served, followed by KPMG with 1,382 and Ernst & Young with 1,053 of funds served.
Andrew Bates, head of Financial Services at Dillon Eustace said Montereys figures are clear evidence of Irelands continuing attractiveness to international financial services groups as one of the leading global fund centers. Significant new growth in fund numbers and assets under administration for both domiciled and non-domiciled funds during 2012 augurs well for Irelands future success leading the vanguard in seizing the significant new opportunities offered by AIFMD, as well as addressing the challenges it poses.
(JDC)