Mutual Funds, ETFs & Closed-End Funds

Overview

Mutual Funds Experience

We serve as regular counsel to over 2,000 mutual funds (or their independent directors or trustees). Our practice spans the entire spectrum of the industry including business development companies, funds investing in commodities and other alternative investment asset classes, and cross-border and international investment strategies.  We regularly advise clients on federal regulatory and compliance matters, fund formation and operation, a full range of mutual fund distribution arrangements, and mergers and acquisitions.

ETF Experience

The growth in number and size of ETFs has been a major trend in recent years, and our practice in this area has grown with the industry. We have in-depth knowledge of this evolving landscape and are familiar with the business, operational and regulatory issues that ETF managers face. Our global team has experience with a full range of ETF strategies and can provide global solutions and practical business advice in connection with product design, operation and fund governance, SEC exemptions, and cross-border regulatory compliance. The ETF industry is rapidly expanding across the globe and the impact of regulation has lent itself to opening up new avenues for sales of ETFs. Consequently, we work with our clients to develop innovative products which are first to market. We currently represent 3 of the 10 largest ETF complexes in the country and are advising a number of clients with applications for exemptive relief to launch.

Closed-End Fund Experience

We represent over 115 closed-end funds across a wide variety of asset classes and for a broad range of clients. We have represented our clients in some of the largest closed-end fund IPOs in recent history, and advise closed-end funds and their advisers with respect to at-the-market offerings, rights offerings and preferred shares offerings, among others. We have experience advising on the organization, registration and operation of novel products for our clients. We also have experience advising on various other closed-end fund matters, such as tender offers, interval funds and proxy contests.

While we represent many of the largest fund complexes in the industry, we also represent numerous small- to mid-sized fund complexes. We value each client relationship regardless of size, and we strive to provide the highest standards of service and attention to all of our clients.