Pioneering investment arrangement in NZ succeeds with DLA Piper’s guidance

Lead partner explains how the structure benefits everyone, including clients

Pioneering investment arrangement in NZ succeeds with DLA Piper’s guidance

DLA Piper has advised an investment manager in a pioneering investment arrangement in New Zealand.

The global legal giant advised Implemented Investment Solutions (IIS) in the launch of three portfolio investment entity (PIE) funds as part of the Hobson Wealth Investment Funds Scheme.

The DLA Piper team was headed by partner Alasdair McBeth, who said that the deal was an exciting project for the firm.

“This is the first fund-hosting arrangement of its type with a local wealth-management business,” McBeth said. “It’s a smart fund-management solution that enables costs to be trimmed for clients while allowing both parties to concentrate on their respective core areas of expertise.”

Managing close to $4bn in assets, ISS is a Wellington-based provider of “fund hosting” services used by major overseas fund managers to facilitate their operations in New Zealand, DLA Piper said. Hobson is a well-known private wealth-advisory team.

DLA Piper advised IIS on all the legal work needed to establish the funds, including drafting the governing documents, as well as reviewing disclosures and currency hedging arrangements.

The firm said that the new PIE funds allow Hobson’s advisers to service a large group of New Zealanders who have fallen through the “advice gap.”

Related stories

Free newsletter

Subscribe to our FREE newsletter service and we’ll keep you up-to-date with the latest breaking news, cutting edge opinion, and expert analysis affecting both your business and the industry as whole.

Please enter your email address below and click on Sign Up for daily newsletters from NZ Lawyer.

Recent articles & video

MinterEllisonRuddWatts moves Auckland headquarters

District Court releases isolation and quarantine protocol

Solomons appoints leader for commercial team

Legal ops expert joins BarkerGilmore’s senior advisor team

Two senior associates join Simpson Grierson

New Zealand M&A operating in ‘a bubble of modified normality,’ Chapman Tripp says

Most Read Articles

Two senior associates join Simpson Grierson

MinterEllisonRuddWatts moves Auckland headquarters

PwC Legal senior manager looks forward to universal acceptance of Black Lives Matter

Two national firms bring in barristers