Services

Advice on closed-end funds

Advice on closed-end funds

TPW has long-standing experience and expertise in developing, putting together and advising on closed-end funds. Initially our closed-end fund work focussed exclusively on the shipping business, but we have since broadened our horizons to offer the full closed-end fund spectrum with various issuing houses as clients. Our expert team has access to all the required information and can come up with implementable solutions within a short space of time. We can offer you comprehensive advice in the following areas:

Start-up phase

Fund design

When designing an investment, developers need to take various legal, tax and economic aspects into consideration during the journey from the discovery phase through to the finished product. TPW can accompany you throughout this tricky journey by deploying auditing, tax and legal specialists. more

Prospectus assessments

Closed-end fund sales prospectuses for the German market are subject to the German Prospectus Act (VerkProspG) and the German Investment Prospectus Ordinance (VermVerkProspV). In addition, sales partners, brokers and investors often demand a prospectus assessment based on auditing regulation IDW S4 of the German Institute for Auditors (IDW) which assures that the content is complete, correct and clearly written. more

Operating and exit phase

Operative business, e.g. with shipping funds this could involve ensuring the smooth operation of vessels, is just one aspect that needs to be monitored. Successful closed-end fund management also entails a number of administrative tasks such as accounting, preparation of annual reports, submission of tax declarations etc. more