Investment Fund Spends $177K Just To Say Goodbye
Published Date: 1/3/2025
Notice
Summary
Some investment companies, like BNY Mellon Municipal Bond Funds, are officially saying goodbye and stopping their registration with the SEC after moving their assets and paying out shareholders. If you want to challenge this, you have until January 21, 2025, to ask for a hearing. This process helps keep things tidy and clear for investors and the market, with some costs involved in wrapping up.
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Analyzed Economic Effects
4 provisions identified: 4 benefits, 0 costs, 0 mixed.
BNY Mellon fund final distribution
BNY Mellon Municipal Bond Funds transferred its assets to BNY Mellon AMT-Free Municipal Bond Fund and made a final distribution to shareholders based on net asset value on March 8, 2024. The applicant reported paying $176,946 in expenses related to the reorganization.
John Hancock fund final payout
John Hancock Tax-Advantaged Global Shareholder Yield Fund transferred its assets to John Hancock Global Shareholder Yield Fund and made a final distribution to shareholders based on net asset value on April 26, 2024. The notice reports $707,832 of expenses incurred in the reorganization that were paid by the applicant, the acquiring fund, and the acquiring fund's investment adviser.
PREDEX fund closure and payout
PREDEX transferred its assets to USQ Core Real Estate Fund and made a final distribution to shareholders based on net asset value on September 6, 2024. The reorganization expenses of $105,679 were paid by the applicant's investment adviser, as reported in the notice.
Deadline to request SEC hearing
If you want to challenge any deregistration application, you must request a hearing by emailing the SEC Secretary and serving the applicant, with hearing requests received by 5:30 p.m. on January 21, 2025. Hearing requests must include proof of service and state the requester's interest and the issues contested.
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