The net asset value of Irish resident investment and money market funds climbed in the second quarter of the year, reversing a decline seen at the beginning of 2025.
The total net asset value reached €5.01 trillion in the three month period, a €57 billion increase from the first quarter, and exceeding the value in final quarter of 2024.
The Central Bank said the growth was driven by transaction inflows, with the majority of the overall increase in equity funds. That rose by €83 billion to over the period, split between investor inflows and positive revaluations, with mixed funds rising by €5 billion.
Money market funds saw some negative revaluation, which partially offset the growth, with net asset value falling by €16 billion.
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However, the value had remained at €880 billion from March to May, before dropping to €864 billion by the end of June 2025. That was below November 2024 levels.
The Central Bank data showed net transactions remained positive in the second quarter, mostly due to investor inflows in April of €26 billion.
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Total assets under management for money market funds were close to €905 billion until May 2025, and fell to €891 billion by June, hit by a decrease of €20 billion in holdings in cash and deposits.
The net asset value of bond funds declined by €1 billion, while other funds fell by €15 billion. Real estate funds and hedge funds were static.
The Central Bank data showed equity holdings increased from €2.57 trillion to €2.66 trillion during the quarter, but the growth of debt securities paused at €1.45 trillion.
There was a €33 billion negative revaluation for US debt securities, driven by US Government bonds, and €26 billion for US equities, with the non-financial sector (NFC) the main driver.
UK debt securities, meanwhile, were hit by a €4.8 billion negative valuation change, again driven by government bonds revaluations.
Euro zone holdings showed positive revaluations for both types of securities.
