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Irish Isas are smiling as market flourishes

HSBC analysts are tipping the Irish stockmarket to go on booming for the

next decade.

The Irish economy is set to grow 8-10 per cent this year, the sixth year

in a row it has enjoyed low-inflationary expansion. Next year, a forecast

of 6-8 per cent further growth has been made.

The Irish government has announced plans to maintain a corporate tax rate

of 12.5 per cent for the next 20 years.

HSBC is also recommending Gartmore&#39s Irish investment trust which has

recently altered its strategy.

The fund, which was previously known as Gartmore Irish smaller companies,

is now to be labelled the Gartmore Irish growth fund. It now has access to

the entire range of companies listed on the Irish stock exchange, except

for the top five. Formerly, it was excluded from the 10 best-performing

companies.

The limit for investing in any single venture has been boosted up to 10

from 5 per cent. Gartmore says this allows a more meaningful sum to be

invested where there is a high level of conviction about future prospects.

A Gartmore spokesman says: “Ireland has the potential to become one of the

richest countries in the European Union within the next 10 years. Gartmore

Irish growth fund is the perfect vehicle to gain exposure to this growth

market.”

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