Sardis Funds Seek Nod for Fees and Flexible Share Options
Published Date: 12/22/2025
Notice
Summary
Sardis Credit Opportunities Fund and Sardis Group, LLC want permission to offer different types of shares, charge fees for early withdrawals, and add service fees based on assets. This affects investors in their closed-end funds and could change how and when fees are charged. If no one asks for a hearing by January 12, 2026, the SEC will likely approve these changes.
Analyzed Economic Effects
3 provisions identified: 0 benefits, 2 costs, 1 mixed.
New Early Withdrawal Charges Possible
The applicants asked the SEC for authority to impose fees when investors make early withdrawals from the closed‑end fund. This change was included in the application filed May 29, 2025 (amended August 29, 2025) and may be approved if no hearing is requested by January 12, 2026. If approved, investors who redeem or withdraw early could pay additional charges.
Asset‑Based Distribution and Service Fees Sought
Sardis Group asked the SEC for permission to charge asset‑based distribution and/or service fees on the closed‑end fund. That request appears in the application filed May 29, 2025 and amended August 29, 2025, and could be approved unless a hearing is requested by January 12, 2026. If allowed, the fund could levy ongoing fees based on the value of assets, increasing investors' costs.
Closed‑End Funds May Create Share Classes
Sardis Credit Opportunities Fund asked the SEC for permission to let the closed‑end fund issue more than one class of shares. This change was requested in an application filed May 29, 2025 and amended August 29, 2025, and the SEC will likely grant the order unless a hearing is requested by January 12, 2026. If approved, the fund could sell different share types to investors.
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