Funds Management » Corrs Chambers Westgarth

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Since the late 1970s collective investment vehicles like listed managed funds have provided a vehicle for Australians to aggregate their wealth. Australians have the highest average per capita investment in managed funds in the world. Much of these funds come from superannuation, the strong growth of which is underpinned by government policies.

Funds under management (excluding superannuation funds) are soon expected to reach $675 billion.

There have been a number of refinements to the model and the model we see today is far superior to its predecessors. However, weaknesses exposed by recent collapses and near death experiences ought to encourage the industry to identify improvements to the collective investment model through better regulation (including tax treatment) and governance practices.

Corrs works closely with clients on corporate and governance issues for managed funds and A-REITs, to help ensure that all regulatory and general law standards are met. We have experience across all the major asset classes and work with a range of funds, including retail and wholesale funds both listed and unlisted; structured products and alternative investments.

Our Experts

Andrew Lumsden

Partner Location Sydney Profile

Christine Maher

Partner Location Brisbane Profile

Michael Chaaya

Partner Location Sydney Profile

Our Experience

Establishment of the Mirvac Wholesale Residential Development Partnership

Corrs is acting for Mirvac Funds Management on the establishment of the Mirvac Wholesale Residential Development Partnership (MWRDP).

MWRDP’s portfolio consisted of multiple diverse residential development project, with a development value in excess of $1 billion.

Westpac Office Trust

Corrs advised Westpac on an innovative, highly geared $365million property trust to own the Westpac's new $670million Sydney headquarters.

Westpac raised an initial $182.5million, to be traded as 50¢ instalment receipts. The balance of $182.5million equity is due in November 2011.

Subsequently, Corrs acted for the responsible entity of the trust in a major restructure involving the renegotiation of the terms of the installment receipt structure and commencement of trading in Units in the Trust on the ASX.

Westpac Residential Trust

Corrs acted for Westpac Funds Management in Australia's first securitised residential property product aimed at retail investors.

The Westpac Residential Structured Investments gave investors exposure to the Australian residential property market via 441 residential properties in six states.

Our Thinking

Unlocking UK pension funds for infrastructure

Can the UK create a new asset class that encourages trustees to invest in crucial infrastructure projects?

Corrs In Brief: Second Tranche of FOFA Released – Corporations Amendment (Further Future of Financial Advice Measures) Bill 2011

The Government has released the draft legislation and explanatory memorandum for the second and final tranche of its Future of Financial Advice (FOFA) reforms. Our earlier In Brief of 29 August 2011 discussed the first tranche of the FOFA reforms.