Icav draws €8.4bn inflows in first year
Some €8.4bn have been drawn in Ireland through the the Irish Collective Asset Management Vehicle (Icav) for the first 12 months of the structure, Irish Funds reported.
The Icav was launched in March 2015. Over 157 funds have been registered under that structure, said the representative body for the cross-border investment funds industry in Ireland.
Most of the new funds have been alternative investment funds (AIFs).
Pat Lardner, CEO at Irish Funds, said: “The Icav was a hugely positive development for the Irish funds industry, and these figures only reinforce the success of this legislation. We’ve seen real appetite from fund managers on a global scale, and we certainly expect this to continue in the coming months and years.
“The vehicle itself improves access for fund managers looking to domicile in a regulated onshore jurisdiction, particularly through AIFs and Ucits.”