Investors Skip Votes on Fund Management Tweaks
Published Date: 3/24/2026
Notice
Summary
Advisors Series Trust and Scharf Investments, LLC want permission to change their subadvisory agreements without asking shareholders every time and to keep some fee details private. This means they can work faster and with less paperwork, but people can still ask for a hearing by April 13, 2026. If approved, it could save time and reduce costs for these investment groups.
Analyzed Economic Effects
2 provisions identified: 0 benefits, 1 costs, 1 mixed.
Relief From Fee Disclosure Requirements
The applicants request relief from certain disclosure requirements so they would not have to disclose fees paid to subadvisers under rule 20a-1, Form N-1A Item 19(a)(3), parts of Schedule 14A, and parts of Regulation S-X. If granted, shareholders of these funds could receive less public detail about fees paid to subadvisers.
Change Subadviser Agreements Without Vote
If you own shares of Advisors Series Trust, the applicants ask the SEC for permission to enter into and materially amend subadvisory agreements with subadvisers without getting shareholder approval. The application (filed Oct 3, 2025 and amended Feb 27, 2026) requests an exemption under section 6(c) of the Investment Company Act to allow these changes.
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