Ireland was the domicile of choice for Ucits funds last year, bucking a general trend of outflows in the asset class and attracting almost twice as many inflows as all the other jurisdictions put together.

The European Fund and Asset Management Association, or Efama, revealed in its annual statistical report that net assets of Ucits funds decreased by 6.2% overall, falling to €5.6 trillion. Net outflows over the year hit €88bn.