Abstract

The paper aims to provide an analysis of the multiple interactions and potential interferences by and between the phenomenon of «financial crisis», on the one hand, and the various players involved in the management of investment funds, on the other, including namely the management company of the fund, the fund itself, and the investors. Moving from an analysis of the main results of the ongoing debate on the nature of investment funds, as well as from the current developments deriving from certain recent court decisions which have deeply influenced the systemic organization of the entire subject matter, the topic of the «crisis» is analyzed, first, from the point of view of the management company, in the light of the latest reforms introduced in the Italian Law on Finance; then, attention is devoted to the «crisis of the fund», with specific reference to the possibility of applying restructuring plans to investment funds. Finally certain specific issues concerning the potential impact of the crisis of the investor on the fund, including application of fund rules, are approached.