CMS remains a key player in the market for its ‘exceptional strength and depth of expertise’ in the retail funds space. The practice is sought after by a growing client roster comprised of notable names from the private equity, financial services, and authorised funds sectors, to assist with high-value and high-profile matters ranging from fund formations and terminations to SDR applications and asset transfers. Heading up the team in Edinburgh is Karagh Gilliatt, who is praised by clients for her ‘remarkable ability to distill complex regulatory frameworks into actionable guidance.’ Gilliatt regularly acts for investment managers, ACDs, and depositaries on market-leading LTAF and tokenisation projects. In London, Laura Houët sits at the helm of the department and her ‘intellect and meticulous attention to detail’ make her well equipped to advise on investment strategies, the implementation of SDR, SFDR, alongside Stewardship Code regulations and governance to aid in climate transitions. The group also benefits from the aptitude of Glasgow-based Aidan Campbell, whose practice spans establishing, reconstructing, and terminating authorised funds, as well as regulatory compliance.

Regarded by clients as a ‘leading UK funds practice,’ Eversheds Sutherland (International) LLP covers the full gamut of retail fund matters on domestic and international levels. The group is well experienced in launching LTAFs, attaining SDR labels and OFR recognition, and overseeing investment structuring, as well as advising on tax and regulatory compliance, investment strategies, and asset transfers. With a wealth of expertise and cross-border capabilities, the team has amassed an impressive and expanding client roster comprised of notable depositaries, banks, and insurance companies. Heading up the department is Michaela Walker, who stands out for her ‘strong legal and market knowledge.’ She regularly assists asset managers, securities service providers, and banks with SDR projects, corporate reporting requirements, and LTAF formations. On the FCA regulatory front, Julian Brown and Phil Spyropoulos are the go-to practitioners, while Katie Taylor and Hannah Jones concentrate on fund launches, restructurings, and terminations. Giulia Del Bianco and Sarah Kopec are among other key team members specialising in fund formations.

Macfarlanes LLP is home to a well-experienced retail funds practice that has a strong reputation in the London market for its robust offering. The group is adept at advising on LTAF and SDR projects, regulatory compliance, and liquidity management – among other areas – on behalf of impressive operators, asset managers, depositaries of investment funds. Spearheading the department is the ‘exceptionally knowledgeable’ Lora Froud, whose expertise spans restructurings and reorganisations, depositary and investment management agreements, alongside ESG compliance. On the structuring and operation front, Alexandra Cochrane is a key contact with an aptitude for establishing LTAFs, advising on mergers and schemes of arrangements, and rationalisations. Tiffany Cox specialises in ESG fund formations and related regulatory disclosures, while Sandeesh Shah focuses on platform and distribution agreements and compliance mandates. Other notable practitioners in the practice include ESG experts Angela Phelan and Emily Batchelor, and SDR authorities Harry Middleton and Katie Darwin.

With a team that ‘delivers quality advice’ and ‘never fails to showcase their in-depth knowledge’, Burges Salmon LLP is sought after by retail investment fund managers, pension funds, and LGPS funds to advise on complex, multi-jurisdictional mandates ranging from investment structuring and fund launches, to mergers and reorganisations. Heading up the group is Tom Dunn, who has deep expertise in assisting clients with the adoption of Sustainable Impact Labels, ESG transitions, and fund terminations, as well as regulatory compliance, the establishment of new funds, and structuring. Cross-border specialist Sarah Logeswaran is an asset to the department, offering advice on fund formations, maintenance, and regulations, while Brandon Wong specialises in ESG-related funds. Carly Phillips-Jones is another key member of the team and brings a wealth of FCA regulatory knowledge.

Farrer & Co is well equipped to assist on an array of high-profile and high-value mandates both domestically and internationally including fund formations, SDR requirements, and OFR applications. The group, praised by clients for its ‘excellent service,’ is predominantly instructed by asset management funds, charities property funds, and fund managers. At the helm of the practice is Jessica Reed, who is noted for providing ‘consistent and reliable advice’ on the establishment of FCA-authorised funds and ESG transitions. She is supported by regulatory expert Grania Baird, who regularly advises on Consumer Duty, compliance, and governance and distribution issues. Other key members of the team include Edward Twigger and Leon Chng, alongside Ellie Fielding and Ellen Maguire.

K&L Gates LLP works with a range of funds, both British and American, on retail investment matters, with recent noteworthy engagements covering complex regulatory requirements. The key name to note is Andrew Massey, a ‘very proactive’ partner who is noted for his expertise in UCITS and AIFMD regimes.