Department profile
Eversheds Sutherland

Investment Funds: Open-ended Funds

UK Guide 2026 : UK-wide


Eversheds Sutherland

Rankings

About

Provided by Eversheds Sutherland

We are recognised as market leaders in open-ended funds, advising top-tier clients including Schroders, Aviva, Columbia Threadneedle, M&G, and Franklin Templeton. Our international capability spans private funds (LPs, unauthorised unit trusts, hedge funds), financial regulation, pensions, derivatives, and tax.

Sustainability and ESG are core strengths. We led work on the FCA’s SDR labelling regime—acting on the first labelled fund and advising on over 80% of those recognised by the FCA. Phil Spyropoulos and Michaela Arter are recommended by The Legal 500 for ESG expertise.

We pioneered work on the Long-Term Asset Fund (LTAF), advising on its development, the first seeded LTAF, and multiple launches including Aviva’s. Our advice covers structuring, regulation, tax, and onboarding. Katie Taylor and Julian Brown sit on a leading industry committee.

We are go-to advisers for UK depositary and custody banks on open-ended funds, including strategic projects and novel issues like Building Safety Act liability.

Our regulatory practice spans UCITS, AIFMD, MiFID, and the FCA Handbook, plus broader financial services matters including SFDR, SDR, TCFD, ISA Regulations, and Consumer Duty.

We advise over 11 firms—representing 500+ funds—on FCA recognition under the Overseas Funds Regime (OFR), and support clients on the emerging Consumer Composite Investments (CCI) regime and LGPS reforms.

Clients (14)

  • Schroders
  • Aviva
  • Columbia Threadneedle
  • M&G
  • Franklin Templeton
  • Fidelity
  • AXA IM
  • Invesco
  • Janus Henderson
  • LGPS Central
  • Morgan Stanley
  • EdenTree
  • Rathbones Asset Management
  • AEW

Chambers Review

Provided by Chambers

Investment Funds: Open-ended Funds - UK-wide

Band 1

Band 1


What the Team is Known For

Eversheds Sutherland's impressive bench of practitioners has extensive experience of developing complex products for retail and institutional investors. Beyond fund formation, the group is able to support on capital raising, debt raising and regulatory compliance, including ESG.

Work Highlights

Provided by Chambers

  • Eversheds Sutherland advised Columbia Threadneedle on the adoption of the Sustainability Focus label for nine of its funds.

Strengths

Provided by Chambers

  • They have market-leading knowledge of UK authorised funds. This includes an excellent understanding of the procedures and requirements of the FCA.

    Investment Funds: Open-ended Funds respondentUK
  • They have a wealth of experience and are a leading funds team in the UK. They have excellent knowledge of the asset management industry and strong relations with the FCA.

    Investment Funds: Open-ended Funds respondentUK
  • They have a deep understanding of the regulatory environment and are aware of the commercial and competitive pressures on asset managers. They always strive to find solutions to problems.

    Investment Funds: Open-ended Funds respondentUK
  • We value the tailored training and opportunities to network that are provided by the firm. A lot of effort is invested in understanding the business in order to give the most tailored advice.

    Investment Funds: Open-ended Funds respondentUK

Notable Practitioners

Provided by Chambers

  • Band 1Julian Brown
    Band 1Julian Brown

    Julian Brown

    Julian Brown assists clients with a wide variety of matters relating to open-ended funds, including ethical and regulatory compliance, OEICs and Charity Authorised Investment Funds.
    • Julian's support and guidance is a key asset.

      Investment Funds: Open-ended Funds respondentUK
    • Julian has a deep understanding of both the regulatory landscape as well as the way the FCA operates.

      Investment Funds: Open-ended Funds respondentUK
    • Julian is very thoughtful, experienced, technically strong and a deep thinker.

      Investment Funds: Open-ended Funds respondentUK
  • Band 1Michaela Walker
    Band 1Michaela Walker

    Michaela Walker

    Michaela Walker regularly advises depositary banks and asset management companies on authorised funds and Authorised Contractual Schemes. She has particular expertise in long-term asset funds.

    • Michaela is the go-to lawyer for fund matters.

      Investment Funds: Open-ended Funds respondentUK
    • Michaela is an outstanding lawyer with a genuine expert level understanding and knowledge of authorised funds. Michaela is highly recommended.

      Investment Funds: Open-ended Funds respondentUK
    • Michaela is very strong in her advice.

      Investment Funds: Open-ended Funds respondentUK
  • Band 2Phil Spyropoulos
    Band 2Phil Spyropoulos

    Phil Spyropoulos

    Phil Spyropoulos acts for a range of clients including asset managers, wealth managers and charities. He advises on areas including FCA regulation, fund launches and fund management.

    • Phil is an outstanding lawyer and an accomplished partner.

      Investment Funds: Open-ended Funds respondentUK
    • His advice is always practical and his knowledge of the industry, particularly the FCA and sustainability, sets him apart.

      Investment Funds: Open-ended Funds respondentUK
    • He is solutions-focused and always take time to understand the broader business context. His advice is clear, practical, tailored to our needs and he consistently adds value beyond technical guidance.

      Investment Funds: Open-ended Funds respondentUK
    • Phil's input is very useful in devising our strategy to tackle new regulations. He also has strong commercial awareness and his wider industry knowledge supports us in how we approach the project.

      Investment Funds: Open-ended Funds respondentUK
  • Associates to watchKatie Taylor
    Associates to watchKatie Taylor

    Katie Taylor

    Katie Taylor regularly represents authorised funds, advising on LTAF structures and regulatory compliance with the FCA.

    • Katie is very responsive and easy to work with.

      Investment Funds: Open-ended Funds respondentUK
    • Katie understands our position and always provides practical advice. I never come off a call with her wondering what I should do now.

      Investment Funds: Open-ended Funds respondentUK

Ranked Individuals at Eversheds Sutherland (4)

UK-wide

Members

Provided by Eversheds Sutherland

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