Ireland emerges as a sustainable investment leader in Europe with ESG products totalling €1.2tn
Thursday, 30 November 2023
PRESS RELEASE
Ireland is currently the third largest funds centre in the world with almost 6 percent of worldwide investment fund assets, totalling €3,9trn
Ireland has emerged as a leader in ESG investments in Europe, with approximately €1.2tn in AUM - 31% of all AUM
Ireland is the leading European domicile of choice for both UCITS and ETFs
The Irish Government’s Funds Sector 2030 Review demonstrates their commitment to continually develop the environment in Ireland to enable global investing and meet the needs of investors.
London, 30 November 2023 - Ireland’s role as a European leader in ESG investing was highlighted today at the Irish Funds 10th Annual UK Symposium, with ESG products now accounting for over €1.2 tn in AUM, 31 percent of all AUM, made up of 1,664 Article 8 funds (€1.2tn) and 159 Article 9 funds (€30bn).
Ireland is currently the third largest funds centre in the world with almost 6 percent of worldwide investment fund assets, totalling €3.9 trillion. As of September 2023, Irish domiciled funds, including sub-funds, reached 8,766, with Ireland being the leading European domicile of choice for both UCITS (78 percent of all Irish domiciled funds) and ETFs (representing 70 percent of the total European ETF market). In addition, Ireland provides a centre of excellence for the administration and servicing of funds located elsewhere with total assets served of €5.4 trillion.
Now in its tenth year and with record attendance, the Symposium highlighted the close ties between Ireland and the UK industry. Discussions focused on key trends and challenges and the evolving needs of investors, with an emphasis on ELTIF 2.0, AI, digitalisation, ESG investment and the increasingly important role of alternative investments in portfolio-led solutions.
Speaking at the event, Derville Rowland, Deputy Governor, Consumer and Investor Protection at the Central Bank of Ireland said: “the UK remains a critical part of the global and European financial system and as such a vital part of European capital markets. Integration with the appropriate regulatory safeguards and cooperation will increase European businesses’ access to international capital and further boost European growth, particularly in an increasingly complex, challenging and uncertain environment.”
Pat Lardner, CEO of Irish Funds commented: “By continually developing our capabilities, innovating and adapting the funds and asset management industry in Ireland is helping address the challenges facing investors and the wider society in which it operates. The rapid growth of ESG products, accounting now for 31% of all assets under management, is clear evidence of this. Additionally, the Irish Government’s Funds Sector 2030 Review demonstrates their commitment to enhance the funds and asset management sector’s ability to meet the needs of global investors and the investment managers who look to Ireland as a trusted partner which has a breadth of expertise and widening capability.
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For all media enquiries, please contact:
Ellie Kennedy ellie.kennedy@pentagroup.co
Irish Funds irishfunds@pentagroup.co
Tel: +44 7442985432
About Irish Funds
The Irish Funds Industry Association (Irish Funds) is the voice of the funds and asset management industry in Ireland. Founded in 1991, Irish Funds represents fund managers, depositaries, administrators, transfer agents, professional advisory firms and other specialist firms involved in the international fund services industry in Ireland.
Irish Funds’ more than 150 members service or manage more than 15,000 funds with a net asset value of €6.5 trillion. Irish Funds is the voice of the funds & asset management industry in Ireland, ensuring Ireland is the premier location to enable and support global investing through its reputation for trust, capability and innovation.
For further information about Irish Funds, please visit https://www.irishfunds.ie/