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Funds industry key contributor to Irish economic growth May 20, 2021 By Funds Europe Growth in Ireland’s funds industry has been linked to its increased economic impact in the country, as assets across all Irish-domiciled funds reached €3.5 trillion in the first quarter this year, up 5% from the previous quarter. The country’s asset management sector saw an increase in its contributions across all key economic metrics during the first three months of the year, a report commissioned by Irish Funds found, which said the industry was a “key contributor” to Ireland’s economic growth. Direct employment rose by 7.9% compared to the previous quarter, while its contribution to the Irish exchequer grew by 9.2%, according to the report. The industry now employs over 17,200 people directly across Ireland (34,357 including indirect employment), and contributes €914 million in direct taxes.

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