Managed Investment Fund Lawyers Australia
Summary
Astris Law advises Australian fund managers and responsible entities on managed investment scheme structuring under Chapter 5C of the Corporations Act 2001, AFSL licensing, product disclosure statements, fund governance, investor documentation and ASIC compliance.
Legal Services for Managed Investment Funds in Australia
Managed investment schemes are built on the fragile foundation of investor trust and strict statutory compliance. The challenge is not just the establishment of the fund, but the ongoing management of a volatile commercial environment within the rigid boundaries of the Corporations Act. We move beyond simple structuring to look at the entire lifecycle of the fund, ensuring that the legal architecture supports the movement of capital while shielding the responsible entity from risk.
We manage the friction between aggressive investment objectives and regulatory oversight by focusing on the integrity of the scheme's structure. Ensuring compliance plans are drafted with a deep understanding of the underlying asset class prevents the "tunnel vision" that often leads to regulatory intervention. We navigate the interplay of AFSL obligations and ongoing reporting requirements, ensuring that the fund manager can focus on performance within a secure legal framework.
Astris Law provides tailored legal advice for managed investment funds businesses across Australia. We understand the unique regulatory challenges, commercial pressures and risk profile of your industry, and we deliver practical, commercially focused legal solutions.
How We Can Help
Key Challenges We Address
Key Legislation & Regulations
Frequently Asked Questions
How do I set up a managed investment scheme in Australia?
Setting up a managed investment scheme in Australia requires registration with ASIC (for schemes offered to retail investors), appointment of a responsible entity holding an appropriate AFSL, preparation of a scheme constitution, product disclosure statement, compliance plan and custodian arrangements. The Corporations Act 2001 sets out the legal requirements.
What are the obligations of a responsible entity in Australia?
A responsible entity of a registered managed investment scheme must hold an AFSL, act in the best interests of members, comply with the scheme constitution and compliance plan, maintain adequate financial resources, lodge annual financial reports with ASIC and ensure the scheme is operated in accordance with the Corporations Act 2001.
What is a product disclosure statement (PDS) and when do I need one?
A product disclosure statement is a document required under the Corporations Act 2001 when offering financial products (including interests in managed investment schemes) to retail clients. It must contain clear and concise information about the product including fees, risks, returns, significant benefits, cooling-off rights and complaints handling.
What is a responsible entity and what are its obligations?
A responsible entity (RE) is the entity appointed under the Corporations Act 2001 to operate a registered managed investment scheme in Australia. The RE must hold an appropriate AFSL, act in the best interests of scheme members, comply with the scheme constitution and compliance plan, ensure scheme property is held by an approved custodian, maintain adequate financial resources and lodge annual financial reports with ASIC. The RE owes fiduciary duties to members and faces personal liability for failures to meet its statutory obligations.
How do I wind up a managed investment scheme in Australia?
Winding up a managed investment scheme in Australia may be initiated voluntarily by the responsible entity, by member resolution or by court order under Part 5C.9 of the Corporations Act 2001. The process requires the RE to realise scheme assets, discharge liabilities, distribute net proceeds to members in accordance with the scheme constitution and lodge final accounts with ASIC. ASIC may also direct the winding up of a scheme where it considers that the scheme is being operated in a manner that is not in the interests of members or is not in compliance with the Act.
Written by Jamie Nuich, Principal of Astris Law
Need a lawyer who understands managed investment funds? Talk to Astris Law.
We work directly with directors in managed investment funds across Australia. No layers, no committees. One lawyer who understands both the law and your industry.
Relevant Practice Areas for Managed Investment Funds
Anti Money-Laundering
AML/CTF compliance for reporting entities including Tranche 2 readiness.
Corporate & Commercial
Comprehensive legal solutions for company formation, shareholder agreements, M&A and commercial contracts.
Regulatory & Compliance
Navigating ASIC, ACCC, Australian Consumer Law and industry regulatory frameworks.