Dáil Éireann Debate, Wednesday - 5 February 2025
285. Deputy Pearse Doherty asked the Minister for Finance the total number of funds domiciled in Ireland; the total number of funds domiciled and under administration in Ireland; and if he will make a statement on the matter. [3058/25]
View answerI am informed by the Central Bank of Ireland that, as of September 2024, there were 9,041 funds domiciled in Ireland. The total number of funds under administration in Ireland, including non-Irish funds, is 13,926. The Central Bank has advised that it is not possible to provide a breakdown of these figures by funds domiciled and under administration in Ireland within the time available. However, arrangements will be made to provide the information to the Deputy as soon as this analysis has been completed.
Building on a strong initial offering of fund administration and fund servicing, Ireland has now developed into a global centre of excellence for the funds and asset management industry. Ireland is the second largest domicile for regulated investment funds in the EU and is the market leader for both Exchange Traded Funds (ETFs) and Money Market Funds (MMFs) in Europe. The funds and asset management sector in Ireland directly employs around 19,500 people throughout the country who provide a range of specialist services and activities across the funds ecosystem.
The Funds Review Report, published in October 2024, recognises Ireland’s potential to benefit from continued growth in the funds and asset management sector. It sets out a series of recommendations to ensure that, in pursuit of this growth, Ireland’s funds sector framework remains resilient, future-proofed, supportive of financial stability and a continued example of international best-practice.
Finally, the recently published Programme for Government includes a commitment to progress and publish an implementation plan taking into consideration the Funds Review recommendations to unlock retail investment and opportunities to grow the funds sector in Ireland.
