Registered Funds

SRZ's investment management group has a nationally recognized practice and expertise representing a broad range of mutual funds and their advisers and distributors. We provide legal counsel to funds advised and sponsored by major financial institutions and independent fund groups, including broker-dealer and bank distributed load and no-load mutual funds, closed-end funds and business development companies. Our group has extensive hands-on experience addressing novel and complex issues arising under the Investment Company Act of 1940 and other federal securities laws, and regularly deals with related regulatory and compliance issues including: the organization and registration of new funds; exemptive applications and no-action requests; SEC examinations; and matters relating to investment advisory, brokerage, securities custody and transfer agent services.

We have been instrumental in helping clients structure:

• Both traditional and cutting edge mutual funds, including mutual funds utilizing hedging, complex derivatives and 130/30 strategies
• Publicly-traded and privately-offered closed-end funds
• Registered hedge funds
• Registered funds of alternative funds
• Traditional and specialized money market funds
• Business development companies
• Commingled investment trusts for ERISA plans
• Commodity pools
• Master-feeder/hub-and-spoke fund structures
• Wrap accounts
• 401(k) and IRA products
• Variable annuity and life insurance products

An important part of our practice also includes our representation of the independent directors or trustees of major mutual fund complexes, including the independent directors of the RiverSource mutual funds and the independent trustees of the Hussman funds. Our focus is on providing practical advice that enables directors/trustees to fulfill their responsibilities. This aspect of our practice has also included assisting fund boards in performing diligence on various significant corporate transactions impacting the funds' investment advisers or their affiliates.

A number of partners and other attorneys in our investment management and litigation groups have prior experience at the SEC, the CFTC and the U.S. Attorney's Office, while others have prior in-house experience, including positions at major mutual fund complexes. This background has allowed us to work effectively with regulators on behalf of our clients in dealing with issues relating to product development, SEC examinations and enforcement actions and regulatory questions, and to understand and consider the business goals and constraints of our clients in developing products and solutions for them.

Our investment management practice is multidisciplinary. In providing services to our clients, we bring together partners with expertise in such areas as M&A, securities, derivatives, banking, tax, ERISA, bank regulatory, employment and litigation.