[Image: EIU --- Click here for high res version]
IRELAND HAS COME out top in a survey of global asset managers. The country is now the European domicile of choice for investment funds, according to the new research from the Economist Intelligence Unit.
71 per cent of global asset managers said that they would now choose Ireland as one of their top three European fund domiciles, if starting over.
Germany and Luxembourg came jointly second, with 45 per cent of managers choosing each as a top three choice. The UK came third, with 33 per cent of managers choosing it as a top domicile.
“The value of Irish domiciled funds is currently €1.3 trillion and the funds industry accounts for over 12,000 jobs in Ireland,” Michael Jackson, head of Matheson’s Asset Management and Investment Funds group, said.
“Remarkable growth rates are now widely predicted for the global funds industry.“If these materialise, Ireland is well positioned to attract a substantial share of that growth, along with the jobs linked to servicing those funds.”
[Image: EIU --- Click here for high res version]
The survey’s authors asked 200 global asset managers to identify the European domiciles they would choose if starting afresh with their fund ranges. It also asked questions about the most important factors when choosing a domicile and anticipated growth.
As the infographic above shows, Ireland was the preferred domicile across all criteria surveyed: 73 per cent of global managers ranked the country as a top three domicile in terms of its legal and tax framework. 72 per cent ranked Ireland top three as regards business conditions for domiciling funds, while 67 per cent said the country was top three in terms of regulatory conditions.
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