Open-Ended Investment Funds - Liquidity Management - Haven’t We Been Here Before?

The COVID-19 crisis has seemingly exposed failures once again in liquidity management at an asset level in certain open ended structures. At a time when the demand for liquidity is unsurprisingly high, new trends are nonetheless emerging in the open-ended space.  Jersey and Guernsey – long-perceived as closed-ended funds jurisdictions – are beginning to see an increase in instructions in respect of open-ended funds, largely due to the success and flexibility of their new private funds regimes.

In this piece, Walkers partner Jonathan Heaney – a Jersey funds lawyer and a specialist  in open-ended fund structuring – explores the impact of the crisis on liquidity, the mismatch between expectations and reality, and the prospects of further regulatory control in this area.

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Kate StoreyPartnerT +44 (0) 1481 748
Matt SandersGroup Partner*T +44 (0) 1481 748

Jonathan HeaneyManaging PartnerT +44 (0)1534 700
Christopher ReedGroup Partner*T +44 (0) 1534 700
Leanne WallserGroup Partner*T +44 (0) 1534 700