Jones Day - Services - Institutional Fiduciary Services

Our representation of institutional fiduciaries encompasses the entire gamut of their business, from holding and managing the assets of employee benefit plans to sanctioning transactions involving these assets by acting in an independent capacity. Institutional fiduciaries benefit from the depth of our experience regarding the myriad requirements imposed by ERISA’s broad fiduciary standards and prophylactic prohibited transaction constraints.

We have counseled institutional fiduciaries concerning the issues involved in the establishment and operation of bundled investment vehicles, comprised of either mutual funds or other pooled investment vehicles (e.g., collective trust funds), and with respect to the conversion from the latter to the former. Our knowledge and experience permit us to structure bundled investment arrangements so as to protect our clients from fiduciary liability to the maximum extent possible when performing their duties, whether when acting as directed trustee or designing the investment menu. We have also assisted these clients with respect to the permissibility under ERISA of their fees.

Our familiarity with investment funds and their operation is comprehensive. We have helped clients establish investment funds designed to attract plan assets, and we have substantial experience structuring and implementing investment transactions (particularly those involving alternative investments), using plan assets held in a fiduciary capacity.

Finally, we have represented clients acting as independent fiduciaries in transactions where their participation is required to avoid fiduciary and prohibited transaction violations. Our dedication to fostering rather than frustrating transactions is apparent in all aspects of such representations, from negotiating the terms of the independent fiduciary’s engagement (including ensuring that our client is fully indemnified in a permissible fashion under ERISA) to ensuring compliance with the technical requirements of any applicable prohibited transaction exemption.

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Lawyers Staff Overview Experience Professionals Main Practice Employee Benefits & Executive Compensation	Our representation of institutional fiduciaries encompasses the entire gamut of their business, from holding and managing the assets of employee benefit plans to sanctioning transactions involving these assets by acting in an independent capacity. Institutional fiduciaries benefit from the depth of our experience regarding the myriad requirements imposed by ERISA’s broad fiduciary standards and prophylactic prohibited transaction constraints. We have counseled institutional fiduciaries concerning the issues involved in the establishment and operation of bundled investment vehicles, comprised of either mutual funds or other pooled investment vehicles (e.g., collective trust funds), and with respect to the conversion from the latter to the former. Our knowledge and experience permit us to structure bundled investment arrangements so as to protect our clients from fiduciary liability to the maximum extent possible when performing their duties, whether when acting as directed trustee or designing the investment menu. We have also assisted these clients with respect to the permissibility under ERISA of their fees. Our familiarity with investment funds and their operation is comprehensive. We have helped clients establish investment funds designed to attract plan assets, and we have substantial experience structuring and implementing investment transactions (particularly those involving alternative investments), using plan assets held in a fiduciary capacity. Finally, we have represented clients acting as independent fiduciaries in transactions where their participation is required to avoid fiduciary and prohibited transaction violations. Our dedication to fostering rather than frustrating transactions is apparent in all aspects of such representations, from negotiating the terms of the independent fiduciary’s engagement (including ensuring that our client is fully indemnified in a permissible fashion under ERISA) to ensuring compliance with the technical requirements of any applicable prohibited transaction exemption.