K&L Gates Assists Performance Trust on the Launch of its First UCITS ETF

Global law firm K&L Gates assisted US-based fixed income fund manager PT Asset Management (PTAM) on the launch of its first UCITS ETF in Europe. The fund, domiciled in Ireland, is an actively managed ETF designed to provide exposure to the US$59.9 trillion US bonds and fixed-income market. Founded in 2008, PTAM manages more than US$8 billion in assets under management across its US and non-US fund complex.

The K&L Gates team was led by Dublin Asset Management and Investment Funds partner Hazel Doyle, with support from Chicago partner Kevin Gustafson and Dublin senior associate Lucy Deane.

“We congratulate PTAM on their successful launch, and we were grateful for the opportunity to advise PTAM on their first UCITS ETFs,” Doyle said. “We continue to see steady growth globally in the active ETF space for US managers, and it is great to partner with PTAM as they brought their well-known expertise in the US fixed-income space to the rapidly expanding European ETF market.”

Gustafson commented: “This is an example of the level of coordination and knowledge across our K&L Gates offices, and how we demonstrate that we are one team working seamlessly together across regions. Our edge in being a leader in the Irish ETF market, bolstered by the strength of our US and global ETF practice, helped us to assist PTAM in bringing this product to the European market. We look forward to supporting the continued growth and success of their global ETF initiatives.”

K&L Gates’ Asset Management and Investment Funds ETF practice delivers clear, cutting-edge advice on ETFs to managers, their sponsors and boards, and other market participants. The firm has a globally integrated team of ETF practitioners with the experience, relationships, and acumen to provide advice that allows clients to capitalize on current and future opportunities in the ETF industry.