Maples and Calder, the Maples Group's law firm, is pleased to announce that its Japanese Funds Services team recently advised Citigroup First Investment Management Limited ("CFIM") on the launch of Citigroup Note – Target Setting at Maturity Fund ("the Fund"). The Fund launched on 30 September 2021 and is authorised for public offering in Japan.
The Fund enables Japanese investors to gain exposure to a notional rules based proprietary index developed by Citigroup Markets Limited, which is comprised of a basket of bond futures indices, equity futures indices and credit indices and the allocation of which is determined by an established asset manager as index allocator. It also enables Japanese investors to obtain a target return expressed as a percentage of the issue price of units of the Fund if units of the Fund are held until and including the applicable maturity date.
A team based in the Group's law firm in Hong Kong acted as Cayman Islands legal counsel to CFIM and was led by Funds & Investment Management Partner, Nick Harrold and assisted by Associate, Costa Valtas. Notably, earlier this year, the team also advised CFIM on the launch of a separate Japan Fund.1
Commenting on the transaction, Nick Harrold said, "CFIM is at the forefront of structuring innovative new products for the Japanese market and it was a pleasure to advise them on this latest fund launch."
"We are delighted to collaborate once again with CFIM on the launch of their latest publicly offered fund in Japan which allows retail investors to obtain a broad and diversified exposure to global assets", added Costa Valtas.
The Maples Group's Japanese Funds Services team is recognised as the market leader, advising and providing funds services to the industry's leading service providers, as well as new entrants to the market, on the structuring and establishment of Japanese Funds.
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