Fund Seeks Faster Subadvisor Switches Without Votes
Published Date: 6/5/2026
Notice
Summary
World Funds Trust and LDR Capital Management want to make it easier to change their subadvisor agreements without asking shareholders every time. They’re also asking to skip some usual fee disclosures about these subadvisors. If no one objects by June 29, 2026, the SEC will approve these changes, which could speed up how these funds manage their fees and partnerships.
Analyzed Economic Effects
2 provisions identified: 0 benefits, 2 costs, 0 mixed.
Fee disclosure relief for subadvisors
The Applicants requested relief from certain disclosure requirements (including rule 20a-1, Item 19(a)(3) of Form N-1A, specified Items of Schedule 14A, and Sections 6-07(2)(a)-(c) of Regulation S-X) as they relate to fees paid to subadvisors. If the SEC grants the requested relief (absent a hearing by June 29, 2026), these funds may omit some usual disclosures about subadvisor fees.
Skip shareholder vote on subadvisors
If you own shares of World Funds Trust, the fund asked the SEC for permission to enter into and materially amend subadvisory agreements with certain subadvisors without asking shareholders to approve those changes. The application was filed July 9, 2025 (amended Jan 5, 2026 and Apr 9, 2026); the SEC will issue an order unless a hearing is requested by June 29, 2026.
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