Irish Collective Asset-management Vehicles (ICAVs) will soon overtake rivals such as SICAVs as the fund structure of choice for global asset managers looking to launch ranges in Ireland, according to Gemini Investment Management managing director Stuart Alexander.
Speaking at Investment Week's Fund Management Summit, Alexander (pictured) said the new fund structure offers greater flexibility and easier US distribution than existing legal structures. The ICAV bill was published on 29 July 2014, establishing Ireland's first bespoke corporate fund vehicle, designed to offer the most attractive features of each of the existing structures. It was signed into law on 15 March 2015. Notably, it removes the safeguard on investment companies for shareholders to demand an annual general meeting. This means there is no requirement to obtain prior investor ...
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