Establishing A CCF In Ireland

As a CCF does not itself have separate legal personality, it relies on its service providers to act on its behalf.

A CCF must have a regulated management company, either a UCITS management company, a non-UCITS management company or an alternative investment fund manager (AIFM), depending on whether the CCF is to be authorised as a "UCITS" or an "AIF".

The board of directors of the management company will be responsible for the management of the CCF. The management company must appoint a depositary to hold the assets of the CCF and carry out a number of other regulatory and oversight responsibilities. The management company and the depositary are the parties to the deed of constitution establishing the CCF.