Morgan & Morgan Legal advised MMG Global Allocation Fund, Inc. in the conversion from a closed-end simple fund into a closed-end umbrella fund.
Morgan & Morgan Legal represented MMG Global Allocation Fund, Inc. (“MMGGFAF” or the “Fund”) before the Superintendence of Capital Markets (“SMC”) in the registration of the amendment of the terms and conditions of the public offering of its participating shares and the authorization for the conversion from a simple closed-end fund into a closed-end umbrella fund, which also required increasing its authorized legal capital in order to offer additional participating shares of different classes, each of which will represent and have an interest in an investment portfolio or assets operated as separate sub-funds, each segregated and independent. The Fund is authorized to offer up to 500,000,000 of its participating shares in different classes, through the Latin American Stock Exchange (Bolsa Latinoamericana de Valores, S.A.)
MMG Bank Corporation has been engaged as Payment and Transfer Agent, as well as Custodian and Placement Agent of MMGGAF, and MMG Asset Management Corp., acts as Investment Manager.
Ricardo Arias, partner, Ana Carolina Castillo, partner, and associate Arantxa Fernandez, participated in this transaction.