The eagerly awaited legislation introducing the Irish Collective
Asset-management Vehicle ("ICAV") was
published by the Department of Finance today, 29 July 2014, in the
form of the Irish Collective Asset-management Vehicle Bill 2014
(the "Bill"). The partners in
Matheson's Asset Management and Investment Funds Group have
been to the fore in recommending and assisting in the development
and implementation of Ireland's new fund vehicle.
The Bill is now due to pass through the next stages of the Irish
legislative process and it is anticipated that it will be enacted
during the third quarter of 2014. On that basis, it is
expected that ICAVs will become available, as an investment fund
specific corporate vehicle, during the last quarter of this
year. The Central Bank of Ireland has committed that it will
be in a position to accept ICAV applications within two weeks of
the legislation being enacted.
