CACEIS NEWS 36

0 100 200 300 400 500

8 caceis news - No. 36 - January 2014

343

286

238

Worldwide

Europe

Country Focus - Ireland

Italy Focus in the next caceis news

Source: EFAMA - October 2013

Source: EFAMA - November 2013

2002

2003

2004

Worldwide Investment Fund Assets Q2 2013 (€ trillion)

Net assets of the European Fund industry Q3 2013 (€ billion)

Total Assets of Irish Domiciled Funds Q3 2013 (€ billion)

1,400

Investment fund assets worldwide decreased 3.5% during the second quarter to stand at €22.94 trillion at end June 2013.

The combined assets of the investment fund market in Europe, i.e. the market for UCITS and non-UCITS, increased by 3.2% during the third quarter of 2013 to stand at €9,531 billion at end September 2013.

1,200

1,000

800

23.78 22.94

1,318

19.97 20.85 21.42 21.95 22.17

600

1,227

18.58

963 1,055

Country Austria Belgium Bulgaria

€bn 150

Share

400 200

808

749

730

647

1.6% 1.0%

587

435

363

304

93

0

3 5

-

September 2013

2002

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

Q3

Q4

Q1

Q2

Q3

Q4

Q1 Q2

Czech Republic

0.1% 1.9% 0.8%

2011

2012

2013

The net assets of Irish domiciled funds reached €1,318 billion in September 2013, representing growth of 7.4% on yearend 2012. These figures demonstrate another strong year for Ireland which saw the industry surpass the significant milestones of €1 trillion in domiciled assets as of yearend 2011. The low 12.5% corporate tax rate is one of the cornerstones of Ireland’s strategy for attracting foreign investment, including the funds industry.

Denmark

181

Finland France

73

1,508 1,361

15.8% 14.3%

Total net assets Type Split - Q2 2013

Germany

Equity

38%

Greece

7

0.1% 0.2%

Hungary

14

Money Market

15%

Irish Domiciled Funds - Breakdown in assets between UCITS &Non-UCITS Q3 2013 (€ billion)

Ireland

1,318

13.8%

Bond

23%

Italy

204

2.1% 0.4%

Liechtenstein Luxembourg

32

Balanced

11%

2,539

26.6%

Other

13%

Non-UCITS €292bn

Malta

9

0.1% 0.7% 0.9% 0.4% 0.3%

Ireland is a major and growing centre for internationally distributed UCITS. UCITS account for 80% of Irish domiciled assets and Irish UCITS are distributed in over 70 countries around the world.

Trends by investment type Q2 2013 (€ trillion)

Netherlands

68 78 41 25

Norway Poland Portugal Romania Slovakia Slovenia

Equity fund assets worldwide decreased 3.6% during the first quarter to €8.7 trillion. Over the same period net assets of bond funds fell 4.8% to stand at €5.4 trillion, whilst net assets of balanced/mixed funds recorded a slight decrease of 0.6% to stand at €2.5 trillion. Net assets of money market funds fell 5.6% during the quarter to €3.4 trillion.

UCITS €1,026bn

4 4 2

- - -

Source: Central Bank of Ireland

Spain

172 194 356

1.9% 2.0% 3.7% 0.2%

Sweden

Irish Domiciled Funds Breakdown by type Q3 2013 (in percentage)

Switzerland

Money Market Bonds Balanced

Equity

Turkey

20

10

United Kingdom

1,070 9,531 6,690 2,841

11.2%

6%

9%

Total UCITS

100.0%

Bonds Equities Hedge Money Market

8

70.2% 29.8%

32%

Non-UCITS

6

21%

4

Equity funds registered strong net asset growth of 7.8% or €173 billion to stand at €2,399 billion at quarter end. Bond fund net assets rose 1.0% or €20 billion to €1,935 billion. Net assets of balanced funds increased 2.0% or €21 billion during the quarter to €1,067 billion. In contrast, money market fund net assets reduced 1.0% or €9 billion during the quarter to € 935 billion. European trends in assets by UCITS type Q3 2013 (€ billion)

Mixed Other

2

7%

0

25%

Q3

Q4

Q1

Q2

Q3

Q4

Q1

Q2

2011

2012

2013

Source: Central Bank of Ireland

Net Sales of Investment Funds Q2 2013 (€ billion)

Total Assets under Administration in Ireland Q3 2013 (€ billion)

Investment funds worldwide registered net inflows amounting to €109 billion in the second quarter, down from €320 billion in the first quarter.

Irish funds industry is now servicing a record figure of €2.5 trillion in assets under administration, an all-time high for the country. This reputation extends not only to Irish domiciled funds but funds based in other jurisdictions including providing administration services to UK, Cayman, Bermudian, BVI and Bahamian investment vehicles.

Money market Bonds Balanced Other (incl.FoF)

Equity

2,400

3,000

2,000

2,500

2,546

369

1,600

2,199

320

2,000

1,878 1,881

1,200

1,653

193

1,500

167

147

1,394

vvv

109

102

99

1,208

83

1,000

800

841 966

636

500

400

489

Q3 Q4 -104

0

Q2

Q3 Q4

2013 Q1 Q2

0

Q1

Q2

Q1

2003

2004

2005

2006

2007

2008

2009

2010

2011 2012 September 2013

Q1

Q2

Q3

Q4

Q1

Q2

Q3

2011

2012

Q4

2011

2012

2013

Split by region of UCITS distribution Q2 2013

Source: Central Bank of Ireland & IFIA

Net Sales of UCITS - Q3 2013 (€ billion)

Net sales of UCITS totaled €34 billion in the third quarter of 2013, up from €12 billion in the second quarter. Uncertainty about bond market developments during the quarter penalized bond funds, whereas equity funds benefitted from improved investor confidence.

Other 2.6%

Irish Administered Alternative Investment Funds (AIFs) Q3 2013 (in percentage)

Brazil 5 . 3%

Australia 5 . 2%

USA 50 . 2%

Ireland is the largest hedge fund administration centre in the world. Ireland services alternative investment assets representing approximately 43% of global hedge fund assets.

132

95

Ireland

78

Europe 28.3%

Rest of World 57%

43%

34

20

12

8

-50

China 1 . 3%

Japan 3.4%

Canada 3.7%

Q1

Q2

Q3

Q4

Q1

Q2

Q3

Q4

Source: HFMWeek 19th Survey & IFIA October 2012

2011

2012

2013

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