The rebound in stock markets saw flows into investment funds rise by 34 per cent in 2003 according to Irish investment managers.
The annual survey of the Irish Association of Investment Managers (IAIM) shows that euro1.9 billion flowed into retail investment products like tracker bonds and managed funds in 2003.
Unit linked products showed particularly strong demand with inflows 14 per cent higher than those at the last stock market peak recorded in 2000.
Mr Gary Connolly of the IAIM said the renewed interest in equity based investments reflected a generally improved economic backdrop and renewed investor confidence in equities.
The demand for tracker bonds rose by 45 per cent in 2003 showing consumers still require security before dipping into equity markets.
Total assets under management by IAIM members amounted to euro188 billion at the end of 2003, euro76 billion of which was managed on behalf of Irish clients.
Personal pensions under the PRSA schemes accounted for euro32 million of the inflow in their first year in the figures while SSIAs continued to show strong volume growth accounting for almost a quarter of all inflows into retail investment products.