Fund Trust Wants Vote-Free Tweaks to Investment Managers
Published Date: 2/4/2025
Notice
Summary
The RBB Fund Trust and First Eagle Investment Management want permission to change their subadvisory agreements without asking shareholders every time. They’re also asking to skip some usual fee disclosures about these subadvisers. If approved, this could speed up management changes and reduce paperwork, with a decision expected by late February 2025.
Analyzed Economic Effects
2 provisions identified: 0 benefits, 1 costs, 1 mixed.
Waiver of Shareholder Approval for Subadvisers
The RBB Fund Trust and First Eagle asked permission to enter into and materially amend subadvisory agreements without getting shareholder approval. The application was filed on December 19, 2024, and the SEC may issue an order unless a hearing is requested by February 24, 2025; a decision is expected by late February 2025.
Relief From Fee Disclosure Requirements
The applicants requested relief from certain disclosure requirements so they would not have to provide some usual fee disclosures about fees paid to subadvisers. If granted, investors in the fund could receive less information about subadviser fees.
Your PRIA Score
Personalized for You
How does this regulation affect your finances?
Sign up for a PRIA Policy Scan to see your personalized alignment score for this federal register document and every other regulation we track. We analyze your financial profile against policy provisions to show you exactly what matters to your wallet.
Key Dates
Department and Agencies
Take It Personal
Get Your Personalized Policy View
Start a Free Government Policy Watch to see how policy affects your household, then upgrade to PRIA Full Coverage for year-round monitoring.
Already have an account? Sign in