Cambria ETFs Push for Easier Subadviser Contract Changes
Published Date: 9/24/2025
Notice
Summary
Cambria ETF Trust and Cambria Investment Management want permission to change their subadviser contracts without asking shareholders every time. They’re also asking to share less info about fees paid to these subadvisers. If approved, this could speed up their management decisions starting soon, with no extra costs for investors.
Analyzed Economic Effects
2 provisions identified: 0 benefits, 2 costs, 0 mixed.
Reduced Disclosure of Subadviser Fees
The applicants seek relief from SEC disclosure requirements so they would not have to disclose fees paid to subadvisers under certain rules and form items. That relief, if granted, would change what fee information investors receive about those subadvisers.
Subadviser Contracts Without Shareholder Vote
The applicants ask the SEC for permission to enter into and materially amend subadvisory agreements without getting shareholder approval. The application was filed September 3, 2025 and amended September 8, 2025; interested persons may request a hearing by October 17, 2025.
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