Rule 18f-3 permits a registered open-end management investment company to issue multiple classes of shares representing interests in the same portfolio of securities if the fund satisfies the conditions of the rule. Each class must differ in its arrangement for shareholder services or distribution or both. Among other requirements, the fund's board of directors must approve a written plan describing the differences among classes.
US Code:
15 USC 80a
Name of Law: Investment Company Act of 1940
The estimated annual time burden of 4080 hours represents a decrease of 1520 hours from the prior estimate of 5600 hours. The decrease in time burden is attributable to changes in the estimates of the average hour burden per response and the number of responses that are submitted pursuant to the rule.
On behalf of this Federal agency, I certify that the collection of information encompassed by this request complies with 5 CFR 1320.9 and the related provisions of 5 CFR 1320.8(b)(3).
The following is a summary of the topics, regarding the proposed collection of information, that the certification covers:
(i) Why the information is being collected;
(ii) Use of information;
(iii) Burden estimate;
(iv) Nature of response (voluntary, required for a benefit, or mandatory);
(v) Nature and extent of confidentiality; and
(vi) Need to display currently valid OMB control number;
If you are unable to certify compliance with any of these provisions, identify the item by leaving the box unchecked and explain the reason in the Supporting Statement.
Rule 18F-3 Supporting Statement.doc
Rule 18f-3 (17 CFR 270.18f-3) under the Investment Company Act of 1940, Multiple class companies