This article was first published in the IFIA's 2015 Spring Newsletter.
The Irish Minister for Finance, Michael Noonan signed the commencement order for the Irish Collective Asset-management Vehicles Act 2015 (the "Act") on 12 March 2015. The Act allows for the creation of a new, tax-efficient and innovative corporate structure for Irish investment funds.
The Irish Collective Asset-management Vehicle ("ICAV") sits alongside the existing public limited company ("Irish PLC") structure, which has been the most successful and popular of the existing Irish fund structures to date. It complements other legal forms of Irish regulated funds – such as the unit trust, investment limited partnership and the common contractual fund – and can be used in conjunction with these funds as master-feeders or parallel fund structures.
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