Tax, Legal and Operational Advantages of the ICAV Structure for Hedge Funds
This article was first published in the Hedge Fund Law Report in August 2015.
The Irish Collective Asset-management Vehicles Act (ICAV Act) came into operation on 12 March 2015 and allows for the creation of an innovative, tax-efficient corporate structure for Irish investment funds which sits alongside existing Irish fund structures. There has been widespread industry interest in the Irish collective asset-management vehicle (ICAV), with a number of leading asset managers such as Permal, Deutsche Bank and Legg Mason already having established ICAVs and a host of other asset managers in the process of either converting to or establishing new ICAVs.
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