Funds Want to Skip Shareholder Votes and Hide Fees
Published Date: 12/9/2025
Notice
Summary
Shelton Funds and partners want permission to change their subadvisor deals without asking shareholders every time and to skip some usual fee disclosures. This means they can move faster and keep some fee details private. If no one objects by December 29, 2025, the SEC will approve these changes, which could affect investors in these funds.
Analyzed Economic Effects
2 provisions identified: 0 benefits, 2 costs, 0 mixed.
Shareholder Vote Could Be Skipped
Shelton Funds asked the SEC for permission to enter into and materially change subadvisory agreements without getting a shareholder vote. If the SEC does not order a hearing by December 29, 2025, that relief will be granted and investors in these funds may no longer vote on those subadvisor changes.
Fee Details May Be Hidden From Investors
The applicants requested relief from disclosure rules about fees paid to subadvisors, which would allow them to omit some usual fee disclosures. If the SEC does not order a hearing by December 29, 2025, those disclosure reliefs could take effect, meaning investors in these funds may get less information about subadvisor fees.
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