Telescope

Whether you are establishing, managing, investing in or lending to a fund, you need experienced advisers who have done it before.

Our specialist funds group has expertise in all fund types: open or closed-ended, institutional or retail, private or listed, partnership or corporate, authorised or unauthorised. The UK-based team is part of CMS’ global funds group. We advise clients wherever they are operating and can efficiently assist in co-ordinating your international distribution strategy.

As well as deep regulatory and taxation expertise, we bring practical advice based on long experience. We are recognised experts in fund formation and also advise on debt finance; fund mergers and restructuring; carry restructuring; secondary transfers; and regulatory affairs.

As well as technical expertise, your advisers should add practical value. We consciously cultivate relationships with regulators, depositaries, administrators and placing agents, which facilitates smooth transactions.

Knowledge of the asset class can be essential to a successful fund launch. CMS’ sector-driven approach allows us to offer asset-class expertise, particularly for real estate, private equity, infrastructure, energy and clean energy, transport, life sciences & healthcare and pharmaceuticals, and TMC.

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High­lights of our ex­per­i­ence in Funds in the UK
Law-Now: Funds
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11/01/2019
Brexit up­date for fin­an­cial ser­vices firms - 21 Decem­ber 2018 to 4...
In out­line: Dur­ing the two hol­i­day weeks covered by this up­date, the flow of Brexit pub­lic­a­tions rel­ev­ant to fin­an­cial ser­vices (FS) con­tin­ued – more than 17 doc­u­ments are lis­ted be­low. Pub­lic­a­tions from the House of Com­mons/Lords cov­er top­ics such as the.
10/12/2018
A real al­tern­at­ive: CJEU con­firms UK can uni­lat­er­ally re­voke its no­ti­fic­a­tion...
Ex­ec­ut­ive sum­mary The Court of Justice of the EU (“CJEU”) has this morn­ing ad­vised that the UK may uni­lat­er­ally re­voke its no­ti­fic­a­tion un­der Art­icle 50 of the Treaty of the European Uni­on (“Art­icle 50”).
26/11/2018
Brexit up­date for fin­an­cial ser­vices firms - week end­ing 16th Novem­ber...
The week in out­line: The week was dom­in­ated by the com­ple­tion of the ne­go­ti­ations (as between the UK Gov­ern­ment (HMG) and the European Com­mis­sion teams) of the draft With­draw­al Agree­ment (WA) (see Doc­u­ment 1 be­low) and the sub­sequent polit­ic­al drama at West­min­ster.
22/11/2018
Art­icle 50: The third way
UK Su­preme Court re­fuses per­mis­sion to ap­peal against de­cision to ask CJEU if, and how, the UK's no­ti­fic­a­tion to leave the EU un­der Art­icle 50 can be re­voked Ex­ec­ut­ive sum­mary There have been con­tra­dict­ory views as to wheth­er, once is­sued, a no­ti­fic­a­tion un­der.
22/11/2018
New re­port | Con­nec­ted Fu­ture: in­vest­ment op­por­tun­it­ies in the rad­ic­ally...
Tech­no­logy-driv­en trans­form­a­tions are not only dis­rupt­ing our every­day lives, but are also rad­ic­ally trans­form­ing the in­fra­struc­ture sec­tor. On the one hand, in­nov­a­tion is driv­ing an up­grade of ex­ist­ing in­fra­struc­ture, such as di­git­al; on the oth­er hand, it.
21/11/2018
EU in­sti­tu­tions reach polit­ic­al agree­ment on new EU frame­work for...
On 20 Novem­ber 2018, ne­go­ti­at­ors for the European Par­lia­ment, the European Com­mis­sion and the Coun­cil reached a polit­ic­al agree­ment on a pro­posed new EU frame­work for screen­ing for­eign dir­ect in­vest­ment (FDI) which will al­low EU Mem­ber States to call for in­vest­ments.
16/11/2018
Brexit up­date for fin­an­cial ser­vices firms - week end­ing 9th Novem­ber...
The week in out­line: In the fin­an­cial ser­vices (FS) sec­tor, the flow of pub­lic­a­tions on ‘no deal’ pre­par­a­tions con­tin­ues apace (see Doc­u­ments 1 to 5 be­low and most of the ad­di­tion­al pub­lic­a­tions in sec­tion 2).
08/11/2018
Brexit up­date for fin­an­cial ser­vices firms - week end­ing 2 Novem­ber...
The week in out­line: UK con­tin­gency plan­ning for a non-deal scen­ario con­tin­ued this week with more ma­ter­i­al on ‘Na­tion­al­ising the Ac­quis’ (NtA) un­der the European Uni­on (With­draw­al) Act 2018 (EU­WA).
06/11/2018
Brexit up­date for fin­an­cial ser­vices firms - week end­ing 26 Oc­to­ber...
The week in out­line: This week saw the pub­lic­a­tion of an­oth­er mass of fin­an­cial ser­vices (FS) re­lated ma­ter­i­al as part of the UK’s pre­par­a­tions in case the UK exits the EU without the With­draw­al Agree­ment (WA) and the pro­posed Trans­ition­al Peri­od (TP) (‘no-deal’).
30/10/2018
Cap­it­al al­low­ances and Budget 2018
In his Budget speech on 29 Oc­to­ber the Chan­cel­lor of the Ex­chequer, Philip Ham­mond, an­nounced sig­ni­fic­ant changes to the UK’s cap­it­al al­low­ance re­gime.   Briefly, these changes were: The in­tro­duc­tion of a new Struc­tures and Build­ings Al­low­ance giv­ing tax.
23/10/2018
CMS - Fo­cus­ing on Funds - AIFMD pre-mar­ket­ing pro­pos­als
This Fo­cus­ing on Funds up­date looks at the hot top­ic of funds mar­ket­ing and pro­pos­als for a pre-mar­ket­ing re­gime for al­tern­at­ive in­vest­ment funds. This is an area we are of­ten asked to ad­vise on as vari­ous forms of “soft mar­ket­ing” activ­ity trig­ger reg­u­lat­ory.
17/10/2018
Brexit up­date for fin­an­cial ser­vices firms - week end­ing 12 Oc­to­ber...
The week in out­line: The head­lines were dom­in­ated again by spec­u­la­tion about the fate of the With­draw­al Agree­ment (WA). The draft WA does not have spe­cif­ic pro­vi­sions for the fin­an­cial ser­vices (FS) sec­tor.