Investment Trusts Seek Deregistration After Shareholder Payouts
Published Date: 4/3/2025
Notice
Summary
Some investment companies, like Alight Series Trust, are asking the SEC to officially say they’re no longer investment companies because they’ve wrapped up their business and paid out their shareholders. If no one asks for a hearing by April 22, 2025, the SEC will approve these requests. This means less paperwork and fewer rules for these companies, with some costs already covered by their sponsors.
Analyzed Economic Effects
5 provisions identified: 5 benefits, 0 costs, 0 mixed.
Alight Series Trust final payouts and retained liabilities
Alight Series Trust made liquidating distributions to shareholders on October 17, 2024 and November 19, 2024 based on net asset value. About $129,000 of reorganization expenses were paid by the applicant's administrator/sponsor, Alight Solutions, LLC, and the applicant retained approximately $75,000 to pay outstanding liabilities.
Insight Select Income Fund final distribution and expense allocation
Insight Select Income Fund transferred its assets to KKR Income Opportunities Fund and made a final distribution to shareholders on February 13, 2025 based on net asset value. Reorganization expenses of $536,192 were paid by the applicant, the applicant's investment adviser, the acquiring fund, and the acquiring fund's investment manager.
PPM Funds liquidation distributions and paid expenses
PPM Funds made liquidating distributions to shareholders on November 18, 21, 22, and December 10, 11, 18, and 19, 2024 based on net asset value. Expenses of $37,916 for the liquidation were paid by the applicant's investment adviser.
Ready Assets U.S. Treasury Money Fund liquidation expenses and payout date
Ready Assets U.S. Treasury Money Fund made a liquidating distribution to shareholders on February 13, 2020 based on net asset value. Expenses of $39,000 incurred in connection with the liquidation were paid by the applicant's investment adviser and/or its affiliates.
Transparent Value Trust asset transfer and reorganization costs
Transparent Value Trust transferred its assets to New Age Alpha Funds Trust and made a final distribution to shareholders on October 25, 2024 based on net asset value. Reorganization expenses of $366,200 were paid by the applicant, the applicant's investment adviser, and the acquiring fund's investment advisers.
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