Funds Industry in Ireland Exceeds US$500 Billion for First Time Ever A&L Goodbody advises on over 25% of total net assets
October, 2004 - Dublin, Ireland
The funds industry in Ireland has exceeded US$500 billion (over €410 Billion), according to the latest edition of Fitzrovia International’s Dublin Fund Encyclopaedia. A&L Goodbody remains the leading legal adviser by net asset value, representing funds in excess of US$149 billion, i.e. 25.8% of all funds in the Irish market.
Fitzrovia’s key findings include (all figures as at June 2004):
· Total net assets in Dublin-domiciled funds reached US$503.3 billion in 2,208 funds and subfunds;
· This represented a growth of over 30% in domiciled net assets in the past year (i.e. up from US$375.4 billion);
· The total net assets of all funds serviced in Dublin (i.e. including non-domiciled funds under administration or custody), has reached US$768.7 billion (€634.5 billion).
Brian McDermott, Head of Investment Funds at A&L Goodbody, commented: “We are delighted to have retained our position as market leader by continuing to represent more than a quarter of the total net assets of the funds serviced in Ireland. This is testament to the strength and quality of our team, our innovative approach, and our focus on building strong client relationships.”
