Pearse Doherty (Donegal, Sinn Fein)
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192. To ask the Minister for Finance the number of qualifying investor alternative investment funds QIAIFs registered as ICAVs; the percentage this comprises of total QIAIFs; the gross value of the QIAIFs that are registered as ICAVs; and the percentage of this value of total QIAIFs value. [27631/19]

Paschal Donohoe (Dublin Central, Fine Gael)
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The Irish Collective Asset-management Vehicle (ICAV), which was introduced in 2015, is a corporate vehicle designed specifically for Irish domiciled and regulated investment funds. All ICAVs must registered and authorised by the Central Bank of Ireland.

Alternative Investment Funds(AIFs) are subject to the requirements of the Alternative Investment Funds Directive (AIFMD), which are (AIFs - regulated by the AFIMD Directive). In Ireland the Central Bank of Ireland is the competent authority for the purposes of AIFMD.

I have been informed by the Central Bank of Ireland that AIFs can be split into two types:

- Retail Investor AIFs (“RIAIF”) which are marketed to retail investors; and

- Qualifying Investor AIFs (“QIAIF”) which are marketed to Qualifying Investors.

The Qualifying Investor AIF is a regulated investment fund suitable for well-informed and professional investors. As the QIAIF is not subject to any investment or borrowing restrictions, it can be used for the widest range of investment purposes. In Ireland the vast majority of AIFs are QIAIFs, with only a small minority approved as RIAIFs.

As at 31^stMay of 2019:

- Number of QIAIFs registered as ICAVs (including sub-funds and standalone funds) = 968

- QIAIF ICAVs as a percentage of total QIAIFs = 38.01%

- QIAIF ICAVs total NAV = €170.2 billion (rounded)

- QIAIF ICAVs total NAV as % of QIAIF total NAV = 26.95%.

Pearse Doherty (Donegal, Sinn Fein)
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193. To ask the Minister for Finance the number of alternative investment funds, AIFs, registered as ICAVs; the percentage this comprises of total AIFs; the gross value of the AIFs that are registered as ICAVs; and the percentage of this value of total AIFs value. [27632/19]

Paschal Donohoe (Dublin Central, Fine Gael)
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The Irish Collective Asset-management Vehicle (ICAV), which was introduced in 2015, is a corporate vehicle designed specifically for Irish domiciled and regulated investment funds. The Central Bank of Ireland is the national competent authority for investment funds in Ireland and in addition acts as the registrar for ICAVs. All ICAVs must registered and authorised by the Central Bank of Ireland.

I have been informed by the Central Bank of Ireland that in relation to AIF ICAVs, as at 31st of May 2019 the position is as follows:

- Number of AIF ICAVs (including sub-funds and standalone funds) = 998

- AIF ICAVs as % of total AIFs = 34.85%

- AIF ICAVs total NAV = €178.6 billion (rounded)

- AIF ICAVs total NAV as % of AIF total NAV = 26.39%