Highly-rated Irish funds sector offers a lucrative career path

Irish Examiner

8 hours ago

Ireland's funds sector is creating a wealth of rewarding career paths as the nation cements its reputation as an EU funds industry leader.
EU-based investors have €1 trillion of investments in Irish-domiciled funds, giving them access to investments in Europe and globally. And by attracting global capital into the EU, Irish-domiciled funds have €1 trillion invested into assets across the EU.
The funds industry in Ireland generated €11.45bn in revenue and contributed €15.4bn in gross value added (GVA) to the Irish economy in 2023.
A recent report by Irish Funds, the voice for Ireland's investment funds and asset management industry for more than 30 years, showed that the sector employed more than 19,500 people and contributed nearly €1bn in direct tax revenue in 2023.
Direct employment in the sector has grown by 22% over the past five years, with nearly half of those working in the industry now located outside Dublin.
In this Q&A interview, Pat Lardner, CEO of Irish Funds, outlines some of the factors driving new jobs growth in the sector, as well as looking at how actions to support the sector and to boost people's financial literacy can be of huge benefit to the Irish economy.
How have remote and flexible work options boosted talent retention in the sector?
The Irish funds and asset management industry was quick to adapt to remote working during the pandemic, and that agility has paid long-term dividends. Today, flexible and hybrid work models are commonplace. The industry's ability to incorporate regional talent has significantly increased, with employment outside of Dublin now accounting for almost 46% of the total workforce.
This expansion across the country, which supports balanced regional development has deepened the talent pool and improved retention. Flexible work has also been a critical factor in supporting gender inclusion. Hybrid working supports women staying in, or re-entering, the workforce. Returner programmes at several companies in the funds and asset management industry are a testament to this shift. Firms are positioning themselves to attract and retain the best talent across the country.
How are employers helping to address the fact that over 50% of adults in Ireland fall below the OECD minimum level of financial literacy?
Ireland's financial literacy gap is a serious concern, but the funds and asset management industry is actively part of the solution. Increasingly, firms are investing in outreach programmes, including Transition Year (TY) initiatives, that equip young people with the financial knowledge they need to navigate adulthood.
Irish Funds, the representative body for the sector, has worked to scale these types of educational engagements, including through the Irish Funds TY Programme. Last year the programme reached 750 students in 23 schools in 14 counties across Ireland, supported by 43 industry volunteers. Financial Literacy programmes are designed not only to inform students but to demystify the world of investment and savings. This outreach is essential: understanding how money works, how to manage it, and how to plan for the future are foundational life skills, yet many adults report lacking confidence in these areas.
By targeting teenagers, the industry is aiming to shift long-term behaviours. These efforts complement broader policy goals to enhance financial wellbeing and reduce inequality of access to financial tools and advice.
We are also supporters of the National Financial Literacy Strategy, launched by the Minister for Finance earlier this year.
How does the fund and asset management industry support savers in Ireland and the broader economy?
Ireland's funds and asset management industry plays a crucial role not only globally but domestically as well. At its core, it helps channel savings into productive investment such as supporting businesses, infrastructure, innovation, and economic resilience.
For individual savers, the industry provides access to better long-term outcomes than traditional savings accounts. With inflation and rising living costs, holding wealth in deposit accounts often leads to value erosion over time. Investment funds help grow savings and preserve purchasing power.
On a macro level, the industry is a major economic contributor. According to the latest Indecon Economic Impact report, it added €15.4 billion in gross value to the Irish economy and supports 37,500 full-time equivalent jobs across the country. This includes a notable 100% increase in regional employment over the past five years. As more Irish people engage with investment products — whether through pension funds, ETFs, or private assets — the sector's relevance to everyday lives is only set to grow.
How will the proposed Savings and Investment Union (SIU) reform support Irish savers?
The EU's proposed Savings and Investment Union (SIU) is a transformative initiative aimed at boosting financial market integration across Europe, and Ireland is well placed to lead in this area. Its goals are simple — make it easier and more attractive for people across the EU to invest their money, rather than leave it idle in deposits.
For Irish savers, SIU could mean greater access to a broader range of investment products, improved transparency, and potentially more favourable tax and regulatory conditions. It would also help to reduce some of the structural barriers that currently discourage long-term investing, such as the high exit tax on fund returns compared to deposit interest.
Ireland's funds industry has an important role to play in shaping and delivering the SIU. As a leading EU domicile and distribution hub, our expertise and infrastructure can support the mobilisation of savings into investments that power the real economy. Whether it's funding climate transitions, digital infrastructure, or housing, the SIU can help ensure capital flows to where it's needed most while supporting savers in achieving better financial outcomes.
www.irishfunds.ie