This compared with a mid-year total of €3.683 trillion at the end of June.
Figures show funds in Europe overall rose during the two months to end August even faster with UCITS up 4.8 per cent in the period compared with 3 per cent Irish growth and hedge funds up 2.9 per cent compared with Irish growth of 1.7 per cent.
This indicates that although Ireland as a European domicile is doing well, its overall growth performance was not exceptional in the two months.
Overall the Irish percentage of European assets slipped slightly from 18.0 per cent to 17.8 per cent. This however was due to higher Irish redemptions, more than matched by net sales, which exceeded the average, a point made by panelist Donncha Morrissey, Head of Branch, Sparkasse Bank Malta plc Ireland Branch in this quarter’s Finance Dublin Funds Monitor (page 8 in the E-paper).
The overall European funds figures, representing net inflows after redemptions, and reported by EFAMA, show that in the second year of the Covid pandemic, liquidity and savings continue to be strong across markets. This combined with low interest rates is encouraging people to seek higher returns in funds.