Funds Management

"They are client-focused and helped us make good decisions"
Chambers Asia Pacific 2012

Henry Davis York's funds management team provides regulatory and commercial advice across the full range of asset classes including equities, hedge funds and other alternative investments and listed and unlisted property trusts.

Working with onshore and offshore clients, we have demonstrated expertise on all legal matters impacting our funds management clients from corporate and business establishment and structuring, acquisitions, new product development, structuring and distribution and technical regulatory compliance.

We also understand the complexities and challenges of cross border product offerings, and are involved in initiatives to develop Australia as a financial services hub.

Experts in our field

We are highly regarded by the market for our technical proficiency and commercial astuteness.

We work with regulators, industry associations and international law firm who recognise us as experts in our field. We are often called upon by market authorities, leading banks and financial services organisations to advise at the highest level on some of the more complex regulatory and legislative matters.

We are actively involved in many strategic initiatives by government and industry groups. For example, we are currently working with the Financial Services Council (FSC) to position Australia as a leading financial services hub of Asia; and the FSC Financial Services Working Group in relation to the simplified PDS reforms.

Relationships are key

We are committed to developing mutually beneficial, sustainable relationships. We have assisted many of our funds management clients from inception. Our advice has assisted these clients throughout the full lifecycle of their business, from the start-up of their operations and acquisitions of businesses, through to the marketing of products and management of assets.

What the market says

"HDY does more than just 'the deal'. They really take the time to listen to us, to understand our business and our challenges... and, they get results. This is a true business partnership."
Hersh Gandhi, Head of Product Development, Man Investments Australia Limited

"Henry Davis York has taken the time to understand our business and the commercial drivers of the deals they work on with us. They partner with us. They have taken a real interest in the success of our business and provide commercially astute legal advice. They understand the industry."
Andrew Landman, Head of Investment Strategy, BT Financial Group

We regularly:

• advise on the establishment of new financial services businesses including assisting our clients in obtaining an Australian financial services licence, advising on compliance with regulatory requirements as well as advising on the structure of the business and shareholder arrangements
• assist offshore fund managers enter the Australian market including obtaining relief from local licensing requirements (where available)
• provide strategic structuring and tax advice and assistance with the establishment of new funds
• review disclosure documents and marketing materials for both retail and wholesale funds
• assist with the acquisition and disposal of funds management businesses and divestment of funds
• advise on incentive programs for retaining key funds management personnel
• advise on key outsourcing arrangements including custody, administration, registry and prime broker arrangements
• provide technical regulatory and compliance advice.

ING Real Estate Investment Management

We are advising ING Real Estate Investment Management on the phased withdrawal from its Australian real estate investment management activities including its management of five ASX-listed real estate investment trusts with in excess of A$7.2 billion in assets under management (at 30 June 2010) and its co-investment stake of around A$150 million in those trusts.

ING Real Estate BV

Advised ING Real Estate BV, the major investor in the ING Retail Property Fund Australia, on the disposal by the fund of its entire asset portfolio consisting of 14 retail shopping centres throughout Australia and New Zealand.

Man Investment Australia

Acted for the issuers of 16 of the OM-IP series of alternative investment funds sponsored by Man Investments Australia Limited (MIA) which have raised over A$1.6 billion in Australia and New Zealand.

Incubator acqusitions

Advised on several fund manager start-ups and incubator acquisitions of strategic stakes in boutique fund managers, including for Ascalon Capital Managers and Treasury Group.

Eureka Funds Management

Advised Eureka Funds Management on the establishment of all its core funds.

Goodman

Advised Goodman on a number of property funds management matters, including structuring and negotiating a number of complex joint ventures with Austral Brickworks for the acquisition and development of land for industrial facilities in Western Sydney and throughout Australia.

MMC Contrarian - acquisition of MBF Limited

We advised MMC Contrarian on its A$195 million acquisition of the Australian life insurer MBF Life Limited and its related Australian wealth management business, Clearview Financial Management Limited from Bupa Australia.

This involved working in partnership with MMC Contrarian through every stage of the transaction from the initial strategies, to due diligence and negotiating with the vendor to settle the transaction agreements.

Our role also included working with the market regulator, APRA, to ensure the transaction ran smoothly and that our client was a 'market fit'. We also assisted MMC with its initial communications with APRA and continued with the drafting and filing of the regulatory applications required pursuant to the Financial Sector Shareholding Act 1998 and the Insurance Acquisitions and Takeovers Act 1991.

Offshore fund managers

Acted for several offshore fund managers in establishing their Australian funds management operations. This included working with outsourced responsible entities including Apostle Asset Management, Equity Trustees Ltd and Perpetual Trust Services Limited to establish Australian funds and apply for licensing relief (where applicable).