K&L Gates Assists American Century Investments with Irish Collective Asset-Management Vehicle

Global law firm K&L Gates LLP has assisted American Century Investments with the registration of its Irish Collective Asset-Management Vehicle (ICAV) under the new Overseas Fund Regime (OFR) in the UK.

The OFR opened on 30 September for new funds seeking to register for marketing to retail investors in the UK. American Century Investments is among the first to have an Undertakings for the Collective Investment in Transferable Securities (UCITS) fund recognised by the Financial Conduct Authority (FCA) under the new regime.

The K&L Gates team was led by Dublin Asset Management and Investment Funds partner Hazel Doyle and supported by special counsel Nicola McCaffery. London partner Philip Morgan, special counsel Kai Zhang, and members of the K&L Gates Global Funds Explorer team also assisted on the matter.

“The opening of the OFR to new funds has been welcomed by our clients who are seeking to market UCITS funds in the UK to retail investors,” said Doyle. “Our knowledge of the FCA’s requirements under the new regime, bolstered by our global asset management practice, ensures that we are best placed to successfully navigate the requirements and ensure that our clients gain access to this important market for distribution.”

Last month, K&L Gates advised American Century Investments on the launch of its UCITS ETF platform in Ireland.

K&L Gates Global Funds Explorer is a dedicated global funds registration service. Centrally managed out of the firm’s Dublin office, the team supports and provides advice to managers looking to offer their fund products on a global basis. Through a single point of contact, the team provides a complete project management solution for fund registrations and associated ongoing compliance, tailored to the individual needs of each client.