The International Comparative Legal Guide to Public Investment Funds 2021 - The International Comparative Legal Guide series (Paperback)

Davis Polk & Wardwell LLP is honoured to serve as Contributing Editor for the fourth edition of ICLG - Public Investment Funds, and it is my pleasure to have been invited to write this preface. Publicly offered investment funds are subject to regulatory frameworks that, depending on the jurisdiction, impose comprehensive restrictions on how a fund is operated. The regulatory framework in the U.S., for example, imposes strict requirements on, among other things, a public investment fund's corporate governance, capital structure, portfolio investments, affiliated transactions, reporting and recordkeeping. The degree of regulation and the specifics of the requirements in each jurisdiction vary significantly, which is why a publication such as this is essential. The fourth edition provides broad overviews of the general regulatory framework for public investment funds in 17 jurisdictions, as well as two expert chapters on topics of particular interest. As the regulations in the financial services industry continue to evolve in response to new developments and obstacles in financial systems globally, it will be important for legal professionals and industry participants to have up-to-date resources such as this guide for practical insight relating to different jurisdictions. We hope that you find this publication useful in your practice, and we look forward to future editions of the publication going forward. Gregory S. Rowland Partner Davis Polk & Wardwell LLP