Journal of
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Archive » November 2023 » Sicavs and Third Party Management Companies, from Luxembourg to Europe

Sicavs and Third Party Management Companies, from Luxembourg to Europe

Massimo Paolo Gentili
November 2023 - n. 11
Keywords: Società di gestione di terze parti, Sicav
Jel codes: G13, G23, G28

The asset management industry, albeit relatively young, is experiencing constant growth, as evidenced by the increasingly widespread presence in the Eu of the so-called Management Companies, better known in Italy as Società di Gestione del Risparmio (Sgr). In this context, following the development of new business models and the growing complexity of regulations, as well as the increasing number of financial instruments available to asset managers and the various types of investment funds launched in the market, new players have emerged, such as Third Party Management Companies (Tpmcs). The business model pursued by Tpmcs has seen significant development, initially in Luxembourg, then in Ireland, the latest country to abandon the self-managed Sicav model.

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