We act for a substantial number of investment fund and financial product providers including stand-alone fund management houses and the investment arms of integrated houses. Our work includes fund formation and restructuring, as well as advice on product design and the regulatory and tax issues which are integral to this area.

We have completed the formation of numerous UCITS (unit trusts and OEICs), many programmes of conversions to UCITS III and COLL, and the migration and amalgamation of funds between different jurisdictions.

We assist clients with cross-border registration of UCITS funds both into the UK and other Member States of the EEA, and we advise generally on marketing of UCITS funds in the UK. We are keeping a close watch on the development of "UCITS IV" and the Alternative Investment Fund Managers Directive, which will have an indirect effect on UCITS. We are also exploring the potential for running hedge fund strategies through UCITS funds.

We also advise on a number of related regulatory matters such as conduct of business rules, client and product documentation and regulatory capital.

Well known clients include Aberdeen, Fidelity, Invesco, Old Mutual and Skandia.


  • "Respected investment management group with a reputation for excellence acting for sponsors and investors."

    Chambers UK 2017

  • "The thing I love about Macfarlanes is they not only understand the regulatory and legal issues, but they know how to impact on the operational aspects of managing a fund. They know what the investors are thinking and can tell us what they expect to see."

    Chambers UK 2016

  • "The firm has expanded its practice in recent years and commentators described the firm's 'prominent position' in the market."

    Who's Who Legal 2015

  • "'Excellent - Macfarlanes is a super firm with a first-class team'."

    Chambers UK 2015

  • "Macfarlanes LLP has a 'strong overall funds practice that covers a wide range of structures', and is praised for its 'practical advice that is based on evolving market practices'."

    The UK Legal 500 2015

  • "Macfarlanes' preeminent practice yields several leading lawyers."

    Who's who Legal Private Funds 2015

  • "This firm is prominent in open-ended retail funds, including UCITS."

    Chambers UK 2011

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