New Irish corporate vehicle for establishing investment funds

The Irish Collective Asset-management Vehicle (ICAV) - came into full operation on 12 March 2015. The ICAV has been initiated in order to provide a more tailored, bespoke corporate solution designed to meet the needs of European investment funds and their investors, and is expected to become the vehicle of choice for UCITS and AIFs in Europe.

Commenting on the formal commencement of the ICAV legislation, the Minister of State at the Irish Department of Finance, Simon Harris TD, described this as a red-letter day, with the ICAV Act 2015 constituting one of the most significant developments for the Irish funds industry in many years.

Michael Jackson, Head of Matheson’s Asset Management and Investment Funds Group, said: “As advocates for the ICAV from the outset, and having inputted significantly with respect to assisting with its progression, we at Matheson are particularly delighted to welcome the new vehicle. The priority accorded by the Irish Government to the legislation reflects their ongoing commitment to the Irish funds industry, and their expectation that it will continue to be a substantial contributor to the Irish economic landscape for many years.”

Article Published: 25/03/2015