Multi-Class ETF Fund Exemptive Relief Under the Investment Company Act of 1940
Published Date: 1/29/2026
Notice
Summary
The SEC is giving special permission to certain investment funds so they can offer both exchange-traded shares (like ETFs) and regular mutual fund shares all in one fund. This change helps fund managers run smoother, more flexible funds that can attract different types of investors. If you want to speak up, you have until February 23, 2026, to request a hearing before the new rules take effect.
Analyzed Economic Effects
1 provisions identified: 1 benefits, 0 costs, 0 mixed.
Funds Allowed Both ETF and Mutual Classes
The SEC is considering orders that would let a registered open-end management fund offer one class of exchange-traded shares (an ETF Class) and one or more classes that are not exchange-traded (Mutual Fund Classes) within the same fund. The Orders would provide relief to allow standard ETF operations consistent with Rule 6c-11 and additional relief to permit the ETF Class and Mutual Fund Classes to coexist in a Multi-Class ETF Fund.
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