Depending on your viewpoint, Dublin is the place to go either for a culture-filled stroll through the Temple Bar or the perfect venue for a stag party. For fund administrators however, it is something far more important: a rival to the likes of Jersey, Luxembourg and the Cayman Islands for the title of the best place to base your business.

Dublin's position as a major fund domicile was underlined by a pair of announcements made last week - data provider Lipper said Ireland continued to attract new funds despite the ravages inflicted by financial crisis, and one of the world's largest custodians said it was expanding its presence in the jurisdiction.