Serviced funds in Ireland hit ‘magic’ $1 trillion mark

Serviced funds in Ireland hit ‘magic’ $1 trillion mark

Funds serviced in Ireland topped the magical $1 trillion mark for the first time at June 30, 2006, up 28 per cent year on year, according to the latest international study of the financial services industry.

Firms in the International Financial Services Centre (IFSC) in Dublin and around the country serviced funds totalling $1.21 billion (€948 billion) at the mid-year point, Lipper Fitzrovia’s new Dublin Fund Encyclopaedia will reveal this week. Total net assets in Dublin-domiciled funds reached $806.6 billion, up 29 per cent on the same period last year.

State Street has maintained its number one position in the administration and custody of funds, with net assets of $178.2 billion under administration and...

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