SEC Notice of Exemption: Revisions to Subadvisory Agreements without Shareholder Approval

Applicants, including an actively managed open-end exchange traded fund, requested an order that would permit them to enter into, and materially amend, subadvisory agreements without shareholder approval. This SEC order grants an exemption from section 15(a) and rule 18f-2 under the Investment Company Act, as well as from certain disclosure requirements.

View order in full here (links externally to SEC website).See also: July 11, 2012 news entry.