Investment Funds Get Flexible with Tiered Share Fees and Charges
Published Date: 5/5/2025
Notice
Summary
Align Alternative Access Fund and Sovereign Financial Group want to offer different types of shares with varying fees and sales charges to investors. This change lets them be more flexible with how they charge for their services, potentially affecting how much investors pay. If no one asks for a hearing by May 27, 2025, the SEC will approve this update.
Analyzed Economic Effects
1 provisions identified: 0 benefits, 0 costs, 1 mixed.
Closed‑End Fund Can Offer Multiple Share Classes
If you invest in the Align Alternative Access Fund (linked to Sovereign Financial Group), the SEC is set to allow the fund to issue multiple classes of shares that can have different sales loads and asset‑based distribution or service fees. This change lets the fund charge investors differently for the same underlying fund and could change how much you pay in fees. A hearing request must be received by 5:30 p.m. on May 27, 2025, or the Commission will issue the order allowing this.
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