Simmons & Simmons advises NGAM on launch of UK OEIC
Simmons & Simmons has advised Natixis Global Asset Management (NGAM), a multi-affiliate asset manager with some GBP454bn AUM worldwide, on the launch of NGAM Investment Funds UK ICVC, an open-ended investment company (OEIC).
This will operate via NGAM SA, its Luxembourg-based authorised corporate director.
This is believed to be the first UK collective investment scheme authorised in the UK by the FSA using a non-UK management company operating under the Ucits IV passport.
The Simmons & Simmons team was led by financial services partner Neil Simmonds (pictured), assisted by associate Olya Parkin.
Simmonds says: “It was interesting to work on the appointment of a Luxembourg ManCo as the authorised corporate director of a UK OEIC. We believe it is the first time it has been done and it is good to see some of the opportunities provided by Ucits IV finally being used in the industry. We expect to see much more of this in future.”
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