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Hedge funds grow, amid slowdown in overall domiciled Irish investment funds in Q2, to €1,112.379 bn, Central Bank reports Back
The heady pace at which the Irish investment funds industry has been growing eased in the second quarter ending June 30th, CBI statistics published today show. Overall fund values at €1,112.4 bn at the end of Q2 compared with €1,123.5 bn at the end of Q1, down 1.0 p.c. in the quarter. However, compared with Q2 2012's total of €944.9m, the total was up by 17.7 p.c. on the same quarter a year earlier.
The hedge funds sector continued to record strong growth however, on the eve of the implementation of AIFMD in Ireland in July. Hedge funds were up 7.7 per cent quarter on quarter, following the 8.5 quarter on quarter growth rate of the previous quarter.

The figures relate to domiciled investment funds in Ireland. They do not include non domiciled funds administered by Irish based fund administration companies.

At the end of Q2, total hedge funds, at €117.32 bn were up by 34.8 per cent in NAV terms on a year earlier total of €87.0 bn., and up by 7.7 per cent on the Q1 total of €108.8 bn.

The major part of Irish investment funds are held in stock and equities, both of which recorded falls in values, reflecting downward valuations. This reflected market sentiment, following comments in the quarter by US Fed chairman Bernanke, and bond market easing, the Bank comments. The Central Bank also attributed the strength in hedge funds to the abilily of hedge funds to alleviate the effect of equity and bond market declines through shorting strategies. It also noted an easing in investor inflows. Click here to see the CBI's full statistics release.
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