Quantcast
The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:Bisys Wins SEC Exemption for Fund Clients Not Rated 0.0 Email Routing List Email & Route  Print Print
Monday, August 11, 2003

Bisys Wins SEC Exemption for Fund Clients

by: Sean Hanna, Editor in Chief

Bisys has won an exemption order from the SEC for 12 of its mutual fund clients. The SEC order allows e 12 funds to collect fees from investment made in affiliated money market funds in relation to their securities lending programs. The SEC issued the order on July 8, according to Lisa Hurley, executive vice president and general counsel of Bisys Fund Services.

Bisys filed an exemptive application with the SEC on behalf of 12 of its mutual fund clients and their investment advisers. The exemptive application requested relief to invest un-invested cash and cash collateral that is received through securities lending programs in shares of affiliated money market funds in excess of statutory limits and to collect the related fees.

Under the order, non-money market funds can now invest up to 25 percent of their assets in affiliated money market funds, according to Bisys. In addition, the investment advisory fees no longer have to be reduced by the amount of the advisory fees that are payable by affiliated money market funds on the value of the assets acquired.  

Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE

0.0
 Do You Recommend This Story?



GO TO: MFWire
Return to Top
 News Archives
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Raw XML
Add to My Yahoo!
follow us in feedly




©All rights reserved to InvestmentWires, Inc. 1997-2019
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use