Unit Trusts & Investment Funds
We have been described by unit trust companies in Malaysia as having an intimate knowledge of the unit trust industry and have been described by a client as being pretty much the standard bearer in terms of knowledge and experience in unit trusts matters and with expertise extending well beyond that. Partner Christopher Foo, who heads our unit trusts & investment funds practice group, has been recognised as a leading lawyer in capital markets.
RDL has been at the forefront of unit trust work for many years. It is probably true to say that most of the substantial documents used in the industry in Malaysia are RDL proto-types. Many foreign entities intending to distribute their investment products and services have made us their ﬁrst point of reference in respect of Malaysian investment matters.
Our team has experience in everything that can be done by a law ﬁrm in so far as the unit trust and fund management industries are concerned, including the following:
- establishing and setting up unit trust management companies (for example, Eastspring Investments Berhad fka Prudential Fund Management Berhad, Eastspring al-Wara' Asset Management Berhad and KAF Fund Management Sdn Bhd were set up by us)
- merging unit trust management companies and asset management companies (for example, the Paciﬁc Group, the Kenanga Group and the KSC Group)
- establishing and setting up more than 100 unit trusts, wholesale funds and REITS (the funds are too many to list individually) – establishment and setting up would include advising on and attending to all documentation and submissions to the Securities Commission
- conducting more than 50 Unit Holders' Meetings (including attending to all pre-meeting documentation, the actual chairing and conduct of the meetings, and all post-meeting documentation)
- drafting all documentation used in the industry (including Prospectuses, Information Memoranda, Deeds, Investment Management Agreements, Transaction Forms, Distribution Agreements and Agency Agreements); the standard Deed adopted and used by the industry was prepared by us
- advising unit trust management companies (including the Sabah, Sarawak and Pahang state-owned companies), asset management companies and trustee companies in relation to regulatory compliance and breach.
We were the ﬁrst in the market to advise on and attend to Capital Guaranteed Funds, Structured Product Funds, Restricted Investment Schemes (now known as Wholesale Funds) and Multi-Class Funds. Documentation in respect of the ﬁrst 5 out of 9 Private Retirement Schemes (PRSs) launched in Malaysia was prepared by us; we also led the industry in the drafting of vesting schedules for PRSs.