Ireland: Introducing the ICAV
This article was first published in the Global Asset Management & Servicing Review 2015/16.
Ciara O’Leary looks at the new Irish collective asset-management vehicle ("ICAV"), which promises to give Ireland an edge in attracting US investors.
The ICAV Bill, which has now been formally approved by the Irish parliament and signed into Irish law, has created a distinct corporate fund vehicle with numerous advantages over the existing fund vehicles available in Ireland. The ICAV allows for greater flexibility with regard to the creation and ongoing operation of investment funds in Ireland and, most importantly, allows Irish corporate investment funds with US investors to operate in a more tax-efficient manner.
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