SEC Greenlights Hybrid ETF-Mutual Fund Structures
Published Date: 7/9/2026
Notice
Summary
Datum One Series Trust and First Sentier Investors want to create a new kind of fund that offers both exchange-traded shares (like ETFs) and regular mutual fund shares all in one. This change would make investing easier and more flexible for folks using their funds. If no one objects by July 31, 2026, the SEC will likely approve this new setup, which could impact how money moves in these funds.
Analyzed Economic Effects
2 provisions identified: 2 benefits, 0 costs, 0 mixed.
New Product Option for Fund Managers
The applicants (Datum One Series Trust and First Sentier Investors (US) LLC) requested an exemption that, if granted, would permit a registered open-end management investment company to operate a Multi-Class ETF Fund offering an ETF class plus one or more mutual fund classes. The filing date is June 12, 2026; interested persons may request a hearing by July 31, 2026 at 5:30 p.m. ET.
One Fund with ETF and Mutual Shares
A proposed SEC order would let a registered open-end investment fund offer one class of exchange-traded shares (ETF Shares) and one or more classes of non-exchange-traded mutual fund shares (Mutual Fund Shares) within the same fund (a "Multi-Class ETF Fund"). The application was filed June 12, 2026, and a hearing request must be received by 5:30 p.m. ET on July 31, 2026 or the SEC will likely issue the order.
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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.
Previous / Next Documents
Previous: 2026-13822 — Datum One Series Trust and Brandes Investment Partners, L.P.
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.
Next: 2026-13824 — Datum One Series Trust and Polar Capital LLP
Datum One Series Trust and Polar Capital LLP 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 fund. 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.