Davis Polk & Wardwell

Investment Management

Lawyers in our London office are working to structure products to fit within the European Community's Undertakings for the Collective Investment in Transferable Securities (UCITS). In structuring the UCITS in Dublin, we worked directly with the Irish Central Bank, the Irish Development Authority and the Irish fiscal authorities. We recently acted as counsel for a U.S. fund for investment in European and Eastern European securities. Our Tokyo office has been following developments in Tokyo and Hong Kong that will permit a wider distribution of registered and unregistered funds in Asia, and we have completed a study of the laws regulating the sale of investment products in a number of Asian and Latin American jurisdictions.

In addition, our non-U.S offices have worked on many collective investment vehicles for the institutional markets, taking into account the tax and regulatory implications of attracting investors from Asia, Latin America, the Middle East and Europe, and making tax-efficient investments in many different countries. These vehicles include Delaware, Bermuda and U.K. partnerships; Cayman Island, Channel Island, Bermudan, Luxembourg and Dutch corporations; and trusts domiciled in Ireland, the Channel Islands, Bermuda and the United States.

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