In our January 2014 OnPoint - Yes - ICAV! Irish Minister for Finance Announces New Irish Corporate Fund Vehicle - we outlined details of the proposed new Irish corporate investment fund vehicle and the enhancements that it offered over the existing corporate fund regime.

After a short delay, the first draft ICAV legislation has now been published.

The published legislation is largely along expected lines and will be analysed in detail in our forthcoming Autumn Quarterly Report. While the draft legislation does not contain expected enhancements to Ireland’s Investment Limited Partnership legislation, it is expected that these enhancements will be incorporated in a later draft of the legislation which is expected to become law by Christmas.