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Introduction

The financial services sector has over the past twenty years been one of the pillars of the Irish economy while it has enjoyed unprecedented growth. Since its inception the investment funds industry alone has funds under management with a net asset value in excess of one trillion Euro. Having experienced 35% growth in 2005 and in excess of 20% during 2006 the growth is set to continue during 2007. There are currently over 9,000 people employed in the investment funds industry in Ireland and this combined with increased employment levels in other financial services areas reaffirms the importance of the sector to the Irish economy.