UCITS and Non-UCITS Funds in Ireland, Summer 2011
23.06.2011
There are two broad categories of mutual funds in Ireland. The first category comprises undertakings for collective investment in transferable securities (“UCITS”). These are funds established under the regulations implementing the European Union’s (“EU”) UCITS Directive and can take one of three forms; unit trusts, investment companies with variable capital and common contractual funds.
The second category of mutual funds in Ireland (“non-UCITS”) can take one of four forms; unit trusts established under the Unit Trusts Act, 1990, investment companies with variable capital established under the Companies Act, 1990, common contractual funds established under the Investment Funds, Companies and Miscellaneous Provisions Act, 2005 and investment limited partnerships established under the Investment Limited Partnerships Act, 1994.
The main differences between UCITS and non-UCITS funds relate to the way in which the funds are marketed to investors and the proposed investment policies of the funds.
