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Managed Investment Schemes

Managed Investment Schemes

By Alan Jessup


According to the Australian Bureau of Statistics, as at 30 June 2011 the managed funds industry had approximately $1,824 billion of funds under management. Therefore the managed investment scheme is very important to the Australian economy.

Despite this importance, the law concerning the managed investment schemes has historically formed only a small part of the Corporations legislation although the case law interpretation and regulatory involvement has increased exponentially since 2009 following the global financial crisis.

Managed Investment Schemes examines the current status of the managed investment scheme taking into account the history and evolution of the scheme and the current law and regulation as well as examining possible future reforms. However this is done not only from a jurisprudential but also from a practical point of view and will therefore be helpful not only to the legal profession and law students but also to industry participants. The author brings together in the book his many years of experience in the industry and provides a handy guide to all participants in the industry.

Importantly, because tax is the primary driver of the managed investment scheme, the book also contains a detailed examination of the tax issues involved with the different types of schemes. Following the global financial crisis, there has been increased rationalisation of the industry involving merger and acquisition activity. The book therefore also considers the legal and regulatory issues involved in trust acquisitions as well as the tax and stamp duty consequences of the same.

Anyone who is involved in the managed funds industry will find this book an important addition to their library including advisers and participants.


Table of Cases
Tables of Statutes

1.  History of the Managed Investment Scheme
2.  The Managed Investment Scheme
3.  Registration of Managed Investment Schemes
4.  The Responsible Entity
5.  Scheme Property
6.  Changing the Responsible Entity
7.  The Constitution
8.  The Compliance Plan and Compliance Committee
9.  Withdrawal and Redemptions
10. Related Party Transactions
11. Winding Up of Schemes
12. Licensing Issues
13. Disclosure Obligations
14. Liability for Defective Disclosure Documents
15. Disclosure to Wholesale Clients
16. Advertising and Hawking
17. Internalisation of Management Rights
18. Mergers and Acquisitions
19. Taxation and Managed Investment Schemes - General Principles
20. Taxation and Managed Investment Schemes - Trusts
21. Taxation and Managed Investment Schemes - Agribusiness Schemes
22. Restructures, Mergers and Acquisitions of Managed Investment Schemes which are Trusts (MIT) – Taxation Issues



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Published 14 December 2011
Publisher The Federation Press
ISBN 9781862878488
Australian RRP $145.00
International Price $135.00
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Law - Banking & Finance
Business / Finance

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