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13.04.2022

Deals

Registering the Tosca (AF) Fund to facilitate its investment offering on wealth management platforms


Details

We initially advised Toscafund Australia on establishing an Australian feeder fund, the Tosca (AF) Fund, to invest in a Cayman Island based investment fund which in turn invests in global equities.

Subsequently, we advised on registering the Fund to facilitate its investment offering on wealth management platforms such as Netwealth, Praemium, and Mason Stevens.


Our role

We advised on establishing the fund, including drafting the constitution and trust establishment documents, preparing the investment management agreement, reviewing and updating the private placement memorandum, and engaging with the Cayman Islands UK based funder manager, Toscafund Pty Ltd. 

We later advised on redeeming the Fund’s investment in the Cayman Island vehicle and subsequent investment in the Tosca UCITS Fund, retiring Toscafund Australia as trustee (and its appointment as investment manager) and appointing One Managed Investment Funds Limited as the Fund’s responsible entity, registering the Fund with ASIC, and preparing a RG 240 (hedge funds) compliant product disclosure statement and target market determination for the Fund.


Authors

Langton Clarke

Langton Clarke

Partner

Kristy McCluskey

Kristy McCluskey

Senior Associate

Contact McMahon Clarke

Brisbane
T +61 7 3239 2900
A Level 7, 100 Creek Street, Brisbane Qld 4000

Melbourne
T +61 3 9909 1400
A Level 2, 696 Bourke Street, Melbourne Vic 3000