PRACTICE AREAS

Funds Management, Investment Funds and Collective Investment Schemes

Funds Management, Investment Funds and Collective Investment Schemes

Singapore’s financial services sector achieved a growth of 16% in the final quarter of 2007, following an expansion of 20% a quarter earlier. The boom in Asia’s growth and prosperity has driven the demand for high net worth wealth management and fund management services here. At the end of 2007, assets under management (AUM) in Singapore grew 32% year on year to reach $1.2 trillion and remained international in character with about 86% of total AUM sourced offshore. The Asia Pacific region remained a key source for mandates for Singapore-based asset managers and represented 44% of the total funds sourced in 2007.

Our Funds Management team draws on the wealth of experience of our Managing Director, Sharmila Gunasingham, a pioneer in the fund management industry who has spearheaded several firsts for the asset management industry, including:

  • Assisting in establishing the first umbrella cum feeder structure in Singapore
  • Obtaining approval for the first Singapore domiciled fund to feed into a Luxembourg and subsequently a Dublin investment vehicle
  • Establishing the first hedge fund in Singapore
  • Obtaining the first authorization for a collective investment scheme in Singapore under the Securities and Futures Act, Cap 289

Singapore, gateway to the Far East and reputed for its world class infrastructure and state of art technology, is a key financial hub in Asia.

This has led to major international assets managers creating and launching collective investment schemes in Singapore, attracting domestic and international funds. With an established reputation in funds work through previous successes, Global Law Alliance LLC handles all aspects of legal and regulatory requirements relating to investment schemes:

  • Fund structuring and design, for open and closed ended schemes
  • Advising on compliance, regulatory and tax issues under the Securities and Futures Act
  • General advice on the implications of the Securities and Futures Act on the offering of foreign collective investment schemes in Singapore
  • Establishing collective investment schemes, asset management and financial advisory companies in Singapore and overseas
  • Obtaining authorization and advising on offers of restricted authorized and restricted recognized schemes
  • Preparing constitutive and transactional documents, including Prospectuses, Profile statements and Trust Deeds
  • Listing on a recognized stock exchange
  • Private placement of schemes
  • Scheme mergers or conversions into open-ended schemes
  • Liaison with the Monetary Authority of Singapore, and Central Provident Fund, and other governing bodies on authorization issues
  • Registration with the relevant regulatory authorities
  • Corporate secretarial services
  • Advice on investment incentives offered by the Economic Development Board to asset management and financial advisory activities
  • Compliance policy development and structuring for securities compliance issues
  • Private and public offers of securities and insurance linked investment products

We work closely with the Monetary Authority of Singapore on policy and regulatory developments and our law corporation has the ability to offer an in-depth and effective advice on funds management and collective investment schemes, related documents and licensing requirements thereof.
 

Reconstructions and Reorganisations

Global Law Alliance LLC has acquired considerable experience in creating new structures designed to match commercial and investment objectives or particular asset classes. We have also gathered expertise in schemes of reorganization and reconstruction in addition to the more straightforward fund structures.
 

Establishment of Offshore Investment Funds and Distribution Advice

We advise on structuring offshore investment funds, leveraging on economic incentives and tax exemptions available under the Singapore Income Tax Act (Cap. 134). We have established offshore investment funds and assisted in the distribution of investment products in Singapore.
 

Private Equity and Venture Capital Practice

In the areas of Private Equity and Venture Capital funds, our advice covers a broad range including raising seed capital, acquisition funds and later stage funds with investment mandates in technology, e-commerce and geographically focused funds such as investments in the USA and Asia Pacific.

The Private Equity and Venture Capital team handles the totality of transactions relating to private equity and venture capital including the following:

  • Funds structuring
  • Preparation of constitutive and transactional documents, including the memorandum and management agreement
  • Advising on compliance, regulatory and tax issues
  • Liaison with the regulatory authorities including the Monetary Authority of Singapore
  • Acting on monetary and fiscal incentives offered by the Economic Development Board