The investment funds in Italy are mainly governed by the Bank of Italy Act, which was amended in 2015, the Unified Financial Act of 1988, and the Securities and Exchange Commission Act (Commissione Nazionale per la Società e la Borsa), shortly known as CONSOB.
There are mainly two types of investment funds one can open in Italy:
- open-ended retail funds
Further divided into alternative investment funds (AIFs) and undertakings for collective investment in transferable securities, abbreviated UCITS funds
- closed-ended retail funds.
Further branched into AIFs and real estate investment funds
Setting up an investment fund in Italy
When opening an investment fund, you first have to choose a structure that you’ll operate under and appoint a manager who is certified according to the Alternative Investment Fund Manager Directive.
What SIGTAX can do for you
At SIGTAX, we provide a full package and independent service to fund managers and clients. We help our clients choose the key parts of the Fund: Investment Manager, Auditor and Depositary among other qualified professionals you might need. Feel free to contact us for further details and assistance in setting up an investment fund in Italy.