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CBI consultation on share class features of closed-ended QIAIFs 

Tuesday, 8th December 2020
CBI consultation on share class features of closed-ended QIAIFs 

The CBI issued a consultation (CP 132) on its proposed regulatory guidance relating the establishment of differentiated share classes in a closed-ended QIAIF. The establishment of such share classes will be permissible to reflect:

  • the issue of shares at a price other than net asset value
     
  • excuse and exclude provisions
     
  • stage investing
     
  • management participation.

The draft guidance will provide clarity in relation to the operation of ILPs under the CBI's regulatory framework. The consultation response deadline is 22 December 2020.

  • Picture of Nollaig Greene
    Nollaig Greene
    Senior Knowledge Lawyer, Asset Management & Investment Funds
    Nollaig Greene is an Associate and a Knowledge Lawyer specialising in asset management & investment funds law. Nollaig has worked within the Corporate Department since joining the firm in 1987. She has worked with the Asset Management & Investment Funds team since 1998.
  • Picture of Ann Shiels
    Ann Shiels
    Knowledge Lawyer, Asset Management & Investment Funds
    Ann Shiels is an Associate and Knowledge Lawyer in the Asset Management & Investment Funds team. Ann has over 20 years’ experience in the investment funds industry. She has worked in house as an Irish custodian and administrator, in practice in Jersey, Channel Islands and has been an associate in the Asset Management & Investment Funds team since 2008.