Introduction to the Model Investment Management Agreement (IMA)

This training session will provide attendees with a solid grounding in Investment Association’s recently updated model discretionary Investment Management Agreement (IMA) template (developed in collaboration with Norton Rose Fulbright LLP).

By the end of the session, attendees will have a good understanding of the structure of the model IMA, what the drafting is intended to achieve and the regulatory framework it reflects.

The training will be interactive, enabling attendees to gain real value from it as well as support with any aspects of the model IMA they find particularly challenging. To assist with the learning process, there will be discussions around key commercial negotiation points, as well as an explanation of the rationale underpinning recent updates to the document.

The programme has been developed by the Investment Association in collaboration with Norton Rose Fulbright LLP.

KEY LEARNING OBJECTIVES:

• Understand the structure of the model IMA and what the drafting is intended to achieve
• Explore key commercial negotiation points and appreciate the rationale behind recent updates
• Develop an understanding of the various regulatory changes, including those relating to the EU Markets in Financial Instruments Directive II (MiFID II) and the General Data Protection Regulation (GDPR)

09:15 Attendee registration

09:30 Welcome and introductions

09:40 Structure and negotiation tactics

• This session will set the scene by looking at the overall structure of the model IMA and how it operates in practice, which will allow attendees to familiarise themselves with the template and understand the intention of the drafting. This will then be followed by a more interactive discussion exploring the key terms and common negotiation points.

11:00 Coffee break

11:15 Regulatory spotlight

• A more focused session to help attendees understand how the drafting of the IMA has been designed to address applicable regulatory requirements, including a more in-depth look at the provisions included as a result of MiFID II and the GDPR.

12:30 Session close and networking lunch

• A sandwich lunch will be provided and an opportunity for you to network with the trainer and other delegates

Anyone who wishes to deepen their understanding of the structure and terms of the model IMA, including its regulatory context. The training session will appeal in particular to those whose role involves them in the development or negotiation of IMAs and those needing to understand how IMAs are drafted to enable compliance with regulatory requirements (such as legal and compliance professionals).

IA Member £375.00 +VAT
Non-Member £450.00 +VAT

Pay using a credit card online, or if you wish to be invoiced please email your full details to: Training@theia.org

PLEASE NOTE: Full payment for the course must be made prior to the course commencement date.

Any cancellation must be made in writing. For all cancellation received 15-30 days prior to the course start date, 50% of the course fee is still payable. No refund is given for a cancellation made 14 days or less prior to the commencement of a course. Transferring from one course to another is treated as a cancellation. You can substitute one delegate for another at no additional cost. In this instance, please give two business days’ notice.

Imogen Garner
Imogen Garner is a partner in the financial services group at Norton Rose Fulbright LLP, where she heads up the buy-side regulatory practice. Imogen has particular experience advising asset managers and their service providers. Her clients are based in the UK and globally, and employ diverse strategies (from Undertakings for Collective Investment in Transferable Securities (UCITS) and traditional long-only managers through to hedge, real estate, private equity and infrastructure funds). She has also worked with a number of asset management industry trade bodies. She spent nine months on secondment to the FSA’s (as it then was) General Counsel’s Division, where she advised the CIS Policy Team and HM Treasury on the EU Alternative Investment Fund Managers Directive (AIFMD).

Iona Wright
Iona Wright is a senior associate in the financial services group at Norton Rose Fulbright LLP and has in-house experience in both the buy-side and the sell-side sectors. Her clients include fund managers, segregated portfolio managers and their service providers, as well as institutional and other sophisticated investors. She advises clients on technical aspects of EU and UK law, including AIFMD, the UCITS Directives, MiFID II, the Capital Requirements Directive IV and the European Market Infrastructure Regulation.

Fiona Bundy-Clarke
Fiona is a data protection associate in the Data Protection, Privacy and Cybersecurity team at Norton Rose Fulbright LLP, based in London. She specialises in all aspects of data protection matters. She has worked with several multinational asset managers and funds to prepare them for the GDPR and support them following its implementation. Fiona also advises on the data protection implications of supplier agreements.