Funds Dodge Shareholder Votes on Advisor Deals
Published Date: 3/25/2026
Notice
Summary
Pacer Funds Trust and Pacer Advisors want permission to change their subadvisory agreements without asking shareholders every time and to keep some fee details private. This means they can act faster and keep some info under wraps, but folks can ask for a hearing by April 17, 2026. If approved, it could speed up how these funds manage their advisors and fees.
Analyzed Economic Effects
2 provisions identified: 0 benefits, 1 costs, 1 mixed.
Shareholder Vote Not Required For Subadvisers
The applicants ask permission to enter into and materially change subadvisory agreements without getting shareholder approval. If the SEC grants this exemption, the funds could make advisor or fee changes faster because they would not need to hold shareholder votes for those subadviser agreements.
Fee Disclosure Relief For Subadvisers
The applicants request relief from disclosure rules so that certain information about fees paid to subadvisers need not be disclosed. If approved, shareholders and investors may not receive full public breakdowns of fees paid to subadvisers under the affected disclosure rules.
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