Ireland’s share in the volume of assets of European exchange-traded investment funds (ETFs) in 2022 increased and reached 67%, or €939 billion.
This was reported on Thursday by the Financial Times newspaper with reference to the analytical company Morningstar.
The second place was taken by Luxembourg, whose share is steadily declining and amounted to only 20%, or €276 billion. “The gap is likely to only widen,” said Andrea Murray, head of business development at the Blackwater Search & Advisory consulting firm. In her opinion, this is due to a more favorable tax climate for American ETFs: in Ireland, the rate for them is only 15%, while in Luxembourg it is 30%. “In addition, Dublin is becoming home to an increasing number of ETF experts, which could further strengthen Ireland’s dominance,” Murray added.
According to the forecast of Ernst & Young consulting agency, by the end of 2023, the size of the European ETF market will grow to $1.7 trillion, and by 2030 – to $3.1 trillion.
