Investment Funds and Asset Management

Overview

Osler’s Investment Funds and Asset Management Group is a multi-disciplinary group of lawyers practising in the corporate, securities, tax and litigation fields. We work as a team to provide domestic and foreign clients of all sizes with the legal advice they need to meet their business objectives and satisfy their regulatory obligations.

We have experience and expertise in all aspects of investment fund and asset management activities including:

Fund and product creation and offerings

Structuring and creating investment funds and structured products of all types, including funds and products with the following structures and investment strategies:

  • funds structured as single and multi-series trusts, partnerships or corporations
  • index-tracking and actively-managed exchange-traded funds
  • currency-hedged funds
  • commodity pools
  • Fund of funds
  • funds with alternative investment strategies
  • hedge funds
  • closed-end funds that automatically convert to exchange-traded or open-end funds
  • Acting for managers and broker/dealers prospectus offerings and private placements of domestic and foreign investment funds

Ongoing operations and transactions

  • Advising managers, distributors and independent review committees on fund governance and conflict of interest matters.
  • Negotiating investment management, sub-advisory and custodial agreements.
  • Advising on ISDA documentation, securities lending, repurchase and reverse repurchase arrangements.
  • Structuring and implementing restructurings of fund vehicles including fund mergers, extensions and wind-ups.
  • Advising on acquisitions and divestitures within the investment funds industry.

Compliance, investigations and litigation

  • Advising Canadian, U.S and other international advisers, dealers and managers on registration and compliance matters, including all aspects of National Instrument 31-103 - Registration Requirements and Exemptions, Canada's recently-enacted national registration rule.
  • Advising managers, advisers and dealers on investigations and audits by securities regulatory authorities.
  • Advising and representing clients in class actions and ordinary civil actions (potential or actual).

Québec specific issues

  • Advising managers, dealers and advisors on to Québec legal and regulatory issues, including issues arising under the Derivatives Act (Québec).
  • Translating offering documents.

Assistance to the industry and regulators

Advising regulatory, self-regulatory and industry bodies, including serving on the following committees and sub-committees:

  • OSC Advisory Committee on Investment Funds.
  • OSC Working Committee on Regulatory Structure.
  • Investment Counsel Association of Canada - Industry Regulation & Taxation Committee
  • Investment Funds Institute of Canada Legal and Compliance Issues Committee.

Osler has provided legal services for or currently represents the following clients:

Canadian portfolio managers and investment fund managers

  • BlackRock Asset Management Canada
  • BMO Nesbitt Burns
  • Fidelity Investments Canada
  • Franklin Templeton  Investments
  • Georgian Capital Partners
  • Hamilton Capital Partners
  • Highstreet Asset Management
  • Invesco Trimark
  • Investors Group Financial Services
  • Jones Heward Investment Management
  • Maple Financial Group
  • McLean Budden
  • National Bank Securities
  • TD Asset Management
  • Titan Funds

International portfolio managers and investment fundmanagers

  • Affiliated Managers Group
  • Ameriprise Financial Services
  • Artisan Partners
  • Driehaus Capital Management
  • Goldman Sachs Asset Management
  • Guggenheim Investment Management
  • Macquarie Allegiance Capital
  • Marathon Asset Management
  • Morgan Stanley Investment Management
  • RARE Infrastructure

Closed-end fund managers and issuers

  • BMO Nesbitt Burns
  • Brompton Group
  • Claymore Investments
  • Connor, Clark & Lunn
  • Mulvihill Capital Management
  • Scotia Managed Companies
  • TD Sponsored Companies

Acquisitions and Divestitures

Osler has recently represented a number of major Canadian and international clients on acquisitions and divestitures of investment management businesses or assets. These include:

  • Barclays on the Canadian aspects of the sale of the Barclays Global Investors business to BlackRock
  • Manulife Financial on its acquisition of AIC’s Canadian retail investment funds business and on its acquisition of Berkshire
  • Royal Bank of Canada on its acquisition of Phillips, Hager & North
Related Expertise
  • Royal Bank of Canada

    Royal Bank of Canada on its acquisition of Phillips, Hager & North

  • Manulife Financial

    Manulife Financial on its acquisition of AIC’s Canadian retail investment funds business and on its acquisition of Berkshire

  • Barclays

    Barclays on the Canadian aspects of the sale of the Barclays Global Investors business to BlackRock

  • Brompton Group

    Brompton Group in its joint venture with Bloom Investment Counsel to take on the management of certain Citadel funds

  • Mackenzie Financial

    Mackenzie Financial on the launch of The Canadian Shield Fund

  • Manulife Financial

    Manulife Financial on its acquisition of AIC’s Canadian retail investment funds business

  • BlackRock Asset Management Canada

    BlackRock Asset Management Canada on its launch of new iShares exchange-traded funds