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Maples Advises on the Launch of New Publicly Offered Fund in Japan

07 Mar 2022

Maples and Calder, the Maples Group's law firm, is pleased to announce that its Japanese Funds practice recently advised Global Funds Trust Company ("GFTC"), on the launch of Bonds Powered Income Fund (the "Fund"). The Fund was launched on 4 March 2022 is authorised for public offering in Japan and will be distributed by Daiwa Securities Co., Ltd. 

The Fund's investment objective is to seek income gains and asset growth through obtaining exposure to the performance of the Powered Income (US dollar) strategy. The Fund's investment manager is Sompo Asset Management Co., Ltd. and Barclays Bank PLC acts as the sub-investment manager. Nomura Bank (Luxembourg) S.A. will provide fund administration and custody services.

A team based in the Group's law firm in Hong Kong acted as Cayman Islands legal counsel to GFTC and was led by Funds & Investment Management Partner, Nick Harrold and assisted by Associate, Aidan O'Regan.

Commenting on the transaction, Aidan noted, "The Fund allows retail investors in Japan to gain exposure to an innovative fixed-income strategy".

"We have seen an increase in the number of Cayman Islands unit trusts that are publicly offered in Japan in the first quarter of 2022. We were delighted to work with such high-quality service providers on the launch of the Fund", added Nick.

The Maples Group's Japanese Funds practice is recognised as the market leader, advising and providing funds services to the industry's heavyweights, as well as new entrants to the market, on the structuring and establishment of Japanese Funds.

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