Brandes Joins Trend for Hybrid ETF-Mutual Funds
Published Date: 7/9/2026
Notice
Summary
Datum One Series Trust and Brandes Investment Partners want to create a new kind of investment fund that offers both exchange-traded shares (like ETFs) and regular mutual fund shares all in one. This change could make investing easier and more flexible for people using these funds. If no one asks for a hearing by July 31, 2026, the SEC will likely approve this new setup soon.
Analyzed Economic Effects
2 provisions identified: 2 benefits, 0 costs, 0 mixed.
Funds May Offer ETF and Mutual Classes
The SEC is considering an order that would let a registered open-end fund offer one exchange-traded share class ("ETF Shares") and one or more non-exchange-traded share classes ("Mutual Fund Shares") in the same fund. The application for this relief was filed on June 5, 2026; interested persons must request a hearing by July 31, 2026 at 5:30 p.m. Eastern to block the order.
Requested Exemptions From Investment Company Act
The applicants asked the SEC for exemptions from sections 2(a)(32), 5(a)(1), 18(f)(1), 18(i), 22(d), and 22(e) of the Investment Company Act, from rule 22c-1, and from sections 17(a)(1) and 17(a)(2). Those exemptions are requested so a fund can operate with both an ETF class and one or more mutual fund classes under the same fund structure.
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