Sec closed end funds
[PDF File]Stay Current Section 13 SEC Reporting by Advisers and ...
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aggregate, held more than 5% of the voting, equity securities of any SEC-reporting company, closed-end fund or insurance company, as described further below (a Section 13(d) or Section 13(g) reporting obligation); or managed discretionary accounts holding, in the aggregate, equity securities with a market
[PDF File]LICENSING CRITERIA Closed End Fund (Single Fund) SEC-3
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Licensing Criteria – Closed End Fund (Single Fund) 1 LICENSING CRITERIA Closed End Fund (Single Fund) – SEC-3.2A Note to the Applicant: 1. The objective of the Licensing Criteria is to ensure the continuous and efficient collaboration between the Commission and the Applicant for a licence in order to ease the licensing process. 2.
[PDF File]Developments in Anti-Money Laundering Regulation for ...
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Developments in Anti-Money Laundering Regulation for Investment Advisers and Funding Portals | May 2016 -4- FinCEN also recognizes that there may be a similar relative lack of transparency if the private fund advisory client or the investing pool is an offshore one. These arrangements could present heightened risks, which the SEC-
[PDF File]Interval funds: An unexpected revival for an old vehicle ...
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1993 via SEC Rule 23c-3 in response to complaints about the very large market discounts to the net asset value (NAV) that closed-end funds often have. Closed-end funds generally are attractive because they allow investment managers to take advantage of a …
[PDF File]SEC Proposes Rule Changes for Fund of Funds Arrangements
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Jan 22, 2019 · that registered open-end funds, unit investment trusts (“UITs”), closed-end funds (including BDCs), exchange-traded funds (“ETFs”), and exchange-traded managed funds (“ETMFs”) could rely on the Proposed Rule as both Acquiring Funds and Acquired Funds. In addition to fund of funds arrangements that are currently permitted under
[PDF File]BlackRock Taxable Closed-End Funds Summary of Dividends ...
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be found in the Funds' prospectuses which may be obtained by visiting the SEC Edgar database. Read the prospectus carefully before investing. Common shares for most of the closed-end funds identified above are only available for purchase and sale at current market price on a stock exchange.
[PDF File]Alert - K&L Gates
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Similarly, Form N-2 (which covers closed-end funds) was amended to require registered closed-end funds to include, as a line item in the fee table, their “pro rata portion of the cumulative expenses charged by the acquired funds, including management fees and expenses, transaction fees and performance fees (including incentive allocations).”
[PDF File]BDCs VERSUS TRADITIONAL CLOSED-END FUNDS: HOW …
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Traditional closed-end funds generally have lower reporting thresholds which are limited to annual and semi-annual reports and a quarterly schedule of investments. In a low-rate environment, investors are continually on the hunt for attractive sources of income—and for many, closed-end high yield bond and leveraged loan funds fit the bill.
[PDF File]SEC STAFF ISSUES NO-ACTION LETTER AND IRS ISSUES …
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I. SEC No-Action Letter Background In February 2008, the auction market for closed-end preferred stock became disrupted, and since then auctions have continued to “fail.” As a result, holders of closed-end fund preferred stock have been unable to sell their shares and the issuing funds have been paying dividends on those shares at
[PDF File]Important Information about Closed-End Funds (including ...
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which provides useful information. Closed-end funds also file regular reports with the SEC. Closed-end fund reports are available from your Baird Financial Advisor or on the SEC’s EDGAR database at www.sec.gov. Characteristics of Interval Funds Some closed-end funds, known as interval funds, provide a daily NAV and can be purchased on a
[PDF File]Saba Closed-End Funds ETF (CEFS)
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Saba Closed-End Funds ETF (CEFS) As of July 31, 2019 The Saba Closed-End Funds ETF (Bats: CEFS) is an actively managed ETF that seeks to generate high income by investing in closed-end funds trading at a discount to net asset value, and hedging the portfolio’s exposure to rising interest rates.
[PDF File]Introduction and Overview of 40 Act Liquid Alternative Funds
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Managed Futures Mutual Funds 9 III. Overview of Alternative Closed-End Funds 11 Alternative Exchange-Traded Funds 11 Continuously Offered Interval or Tender Offer Funds 12 Business Development Companies 13 Unit Investment Trusts 14 IV. Requirements for 40 Act Liquid Alternative Funds 15 Registration and Regulatory Filings 15
[PDF File]InFocus: Regulatory proposals impact the BDC market
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The SEC also proposed the removal of the “3-5-10 percent” rule in section 12d-1-A that restricts the amounts registered investment companies (mutual funds, unit investment trusts, listed and unlisted closed-end funds, and ETFs) and BDCs can invest in other registered investment companies or BDCs. These adjustments
[PDF File]Cohen & Steers Closed-End Opportunity Fund
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SEC yield reflects the rate at which the fund is earning income on its current portfolio of securities. Since certain distributions received by the funds from closed-end fund investments (CEFs) may consist of dividend income, return of capital and capital gains, and the character of these distributions cannot be
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