Politics & Regulation

Irish regulator proposes new non-UCITS fund structures

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The implementation of the Alternative Investment Fund Managers Directive may result in two new non-UCITS fund structures being created in Ireland.
It has been proposed that the current Qualifying Investor Fund (QIF) will be replaced with a Qualifying Investor Alternative Investment Fund (QIAIF) and for retail investors a Retail Investor Alternative Investment Fund (RIAIF) regime will be created.
The AIFMD defines AIFs as collective investment undertakings which are not UCITS-compliant – and the proposals issued by the Irish regulator, the Central Bank of Ireland, will impact the UCITS regime. 
The Consultation on implementation of Alternative Investment Fund Managers Directive published by