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ARTICLE · 24 MARCH 2015

Ireland’s New Fund Vehicle: The ICAV

Mason Hayes & Curran LLP
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The Irish Collective Asset-management Vehicles Act 2015 (the "ICAV Act") was signed into Irish law on 4 March 2015.

IrelandFinance and Banking
Fionán Breathnach
Fionán Breathnach
Conor Durkin
Conor Durkin
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The Irish Collective Asset-management Vehicles Act 2015 (the "ICAV Act") was signed into Irish law on 4 March 2015.  The ICAV Act creates a new corporate vehicle, the ICAV, for investment funds.  The ICAV is incorporated and operates under legislation designed, in consultation with the funds industry, specifically to meet the operational needs of investment funds, their managers and their investors.  The creation of this new corporate vehicle outside Irish Companies Acts is a key development in the Irish Government's continued commitment to support the Irish funds industry.

What is an ICAV?

The ICAV is a new form of Irish corporate investment fund vehicle to exist alongside the longer-established Irish fund structures:  the investment company, unit trust, common contractual fund and investment limited partnership.  Both UCITS and AIFs may be structured as ICAVs.  The ICAV may be structured as a standalone vehicle or as an umbrella fund, as open-ended or

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