byEoin SheahanHead of Marketing
Carne Group Ranked No. 1 by Monterey Insight Ireland Fund Report
Carne Group is the number one provider of Third-Party Management Company services in Ireland, according to the latest Monterey Insight Ireland Fund Report. The 2018 report reveals that Carne not only retained its number one ranking but actually increased its market share. Carne now accounts for $36.6 Billion in Assets under Management (AuM), more than double the AuM of its nearest competitor.
Commenting on the results, Yvonne Connolly CEO Ireland, said: “We are delighted to be ranked as the leading 3rd party management company in Ireland again this year. Increasing our market share in a growing market is a great endorsement of the professionalism and dedication of Carne Group Ireland. These results are evidence of our ongoing drive and ambition to provide the industry with next generation fund management solutions, unrivalled expertise and a service that is market leading on the global stage. We are grateful for the support of our clients and look forward to continuing to serve them in 2019”.
The findings of the 23rd edition of Monterey Insight were published on 16 December and reveal the market shares of all service providers in Ireland’s funds industry as at 30th June 2018.
The report highlights significant year on year growth in the Irish funds industry. Fund assets serviced in Ireland rose by 21.4% reaching US$3,293.3bn at the end of June 2017 up from US$2,713.4bn. The total number of sub-funds reached 8,492 (an increase from the 7,969 of the previous year) of which 4,922 are domiciled in Ireland with a total market size of US$2,496.8bn. The number of Irish domiciled funds has grown by 6.1% since 2016 when the total of funds was 4,637. The amount of new Irish schemes launched during the year rose to US$32.4bn and over 252 sub-funds.