RJ Credit Fund Seeks Approval for Tiered Share Options
Published Date: 4/3/2025
Notice
Summary
RJ Private Credit Income Fund, along with Raymond James Investment Management and Carillon Fund Distributors, asked the SEC for permission to offer different types of shares and charge early withdrawal fees plus ongoing service fees. This change affects investors in these funds by potentially changing how fees are charged and when they can pull out money. The SEC will decide by April 22, 2025, unless someone requests a hearing.
Analyzed Economic Effects
2 provisions identified: 0 benefits, 1 costs, 1 mixed.
Permission to Charge Withdrawal and Ongoing Fees
The applicants asked the SEC for permission to impose early withdrawal charges and asset-based distribution and/or service fees on the fund. If approved, investors could pay extra fees when they take money out early and ongoing asset-based fees while invested. The SEC may act (or require a hearing) by April 22, 2025.
Fund May Issue Multiple Share Classes
The RJ Private Credit Income Fund asked the SEC for permission to create more than one class of shares for the same fund. This change could mean different investor groups in the same fund have different fees or terms. The SEC may decide (or require a hearing) by April 22, 2025.
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