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Maples Group Advises on Fund with Citi Algorithmic Strategy Exposure

03 Apr 2023


Maples and Calder, the Maples Group's law firm, is pleased to announce that its Japanese Funds practice recently advised Citigroup First Investment Management Limited ("CFIM") on the launch of Citigroup Note – Target Setting at Termination Fund ("the Fund"). The Fund launched on 30 March 2023 and is authorised for public offering in Japan. 

The Fund enables Japanese investors to gain exposure to a notional rules based proprietary index, which is comprised of a basket of bond futures indices, share futures indices and credit indices. If units of the Fund are held until and including the applicable maturity date, then the fund also allows Japanese investors to obtain a target return expressed as a percentage of the issue price of units of the Fund. 

A team based in the Group's law firm in Singapore acted as Cayman Islands legal counsel to CFIM and was led by Funds & Investment Management Partner Nick Harrold and assisted by Associate Costa Valtas.

Commenting on the transaction, Nick Harrold said, "We are continuing to see strong demand from retail investors in proprietary strategies that can offer significant upside, whilst providing a minimum fixed return if certain conditions are met. It was a pleasure to work with the CFIM team on their latest product for the Japan market."

Costa Valtas added, "We are delighted to collaborate with CFIM once again on the launch of their latest publicly offered fund in Japan providing retail investors with a broad and diversified exposure to global assets."

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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