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Financial Services

Investment Funds

Our dedicated Investment Funds Practice has been at the forefront of industry developments and Fionán Breathnach, head of the Investment Funds Practice, is an active member of the Legal and Regulatory Committee of the Irish Funds Industry Association. The team advises on all aspects of investment funds law and regulation including structuring, establishing and the ongoing operation of investment funds in Ireland, including their management and corporate governance.

A feature of our practice is the establishment, for international distribution, of UCITS funds for alternative investment management clients (Newcits), accommodating strategies which were previously the preserve of hedge funds. We are also actively advising clients on the Irish regime facilitating the redomiciliation of offshore funds to Ireland and on the establishment of "side by side" onshore products. In particular, we are increasingly being instructed in this regard on the establishment of QIFs, a non-UCITS Irish fund product which is the European domiciled hedge fund structure of choice and which accounts for 63% of such funds according to recent industry statistics. The QIF addresses all the material requirements of the AIFM Directive and will benefit from a European passport once the AIFM regime is implemented, as expected, in 2013.

The Investment Funds Practice is supported by the broader Investment Funds Group at Mason Hayes & Curran which includes specialist practitioners from the Tax, Corporate, Dispute Resolution, Banking, Intellectual Property and Financial Services Regulation Practices who have experience of applying their specialisations to the funds market.

Recommendations:

Chambers & Partners Europe, Europe's Leading Lawyers, 2011
The core funds practice at this full-service firm has undergone an expansion in recent times, including the addition of a new partner. The team provides counsel on all aspects of investment funds law and regulation, such as structuring, establishing and listing funds in Ireland. Its activities include setting up UCITS funds for international distribution.

Chambers Europe - The World's Leading Lawyers, Chambers and Partners, 2010.
"'There is no doubting the quality of its technically progressive work in investment funds. Fionán Breathnach leads the team, who advise on all aspects of Irish funds law and regulation, and has particular expertise in alternative investments and hedge funds. "Mason Hayes & Curran is extremely proactive, and you can trust the group to let it run with its initiative" says clients."'

Legal 500, 2011
Mason Hayes & Curran grew its practice with the partner hire of Mark Browne from the Cayman office of Maples and Calder. The team, headed up by Fionan Breathnach, advised Cheyne Capital on the establishment of a Convertible Bond UCITS. The firm also advises Centaur Fund Services and the National Investor.

Legal 500, 2010
At Mason Hayes & Curran, Fionán Breathnach is praised for his 'deep local knowledge' and 'regulatory awareness'. The team is experienced in the establishment of UCITS and QIFs.

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Our People

Fionán Breathnach
Head of Department
Mark Browne
Partner
John Gulliver
Tax Partner
John Kettle
Partner