IRELAND - Irish domiciled funds reached €963bn ($1.3trn) in net asset value at the end of 2010, up nearly a third from €748bn in 2009, said the Irish Funds Industry Association (IFIA).
The nation also services 63% of all European hedge funds and 42% of alternative investments across the globe.
IFIA CEO Gary Palmer said Ireland's regulatory regime already meets many of the requirements being proposed in Europe as part of the Directive on Alternative Investment Fund Managers.
"All Irish funds, for example, are already required to have a trustee/depositary and are administered and valued by entities already authorised and supervised by the Central Bank of Ireland," he said.
IFIA spokeswoman Angela Madden added: "Ireland is becoming increasingly transparent which meets investor demand and we are still number one in servicing alternative investments. Everybody is talking about the economic climate here but we are trying to benefit from it - rents have come down and costs have fallen."
Ireland also services funds in alternatives, fixed income, hybrid, commodities, indices, derivatives, EPM techniques, absolute return, arbitrage, algorithms, macro, structured, short strategies, replication, convertible bonds, synthetic ETS and funds of funds.
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