Faegre Drinker Guides The RBB Fund in Innovative Dual Share Class Structure

Faegre Drinker recently provided legal counsel to The RBB Fund (RBB) in the creation and implementation of a dual-share class structure consisting of a mutual fund share class and an ETF share class. This groundbreaking initiative, facilitated in partnership with investment management firm F/m Investments, represents a significant advancement in the financial services industry, being the first of its kind to be launched under the modern Securities and Exchange Commission exemptive order.

RBB, a leading ETF and mutual fund provider managing approximately $40 billion in assets on behalf of 21 investment advisers, over 20 unaffiliated sub-advisers, and a diverse family of more than 70 mutual funds and ETFs, stands at the forefront of innovation in the sector. President of RBB, Steven Plump, commended the Faegre Drinker team for their expertise, commitment, and diligent efforts in bringing this unique structure to fruition, emphasizing the critical role they played in the project’s success.

The Faegre Drinker team, under the leadership of Jillian Bosmann, included accomplished investment management partners Gwendolyn Williamson and Leila Vaughan, as well as skilled associates Amanda Rudolph, Ya Wang, and Jessica Himes. Their combined efforts and legal acumen were instrumental in navigating the complexities of launching a dual-share class structure, ensuring compliance with regulatory requirements and industry standards.

The dual-share class structure implemented by RBB represents a strategic move to offer investors greater flexibility and choice in their investment options. By providing both a mutual fund share class and an ETF share class, RBB aims to cater to a diverse range of investor preferences and market demands, enhancing accessibility and broadening the scope of investment opportunities available to stakeholders.

With a wealth of experience and a deep understanding of the intricacies of the financial services landscape, the Faegre Drinker team was well-equipped to guide RBB through the process of establishing this innovative structure. Their unwavering dedication, attention to detail, and industry knowledge were key factors in the successful launch of the dual-share class, setting a new standard for collaborative efforts between legal advisors and financial institutions in navigating regulatory complexities and driving strategic initiatives within the industry.

For more information on the dual-share class structure introduced by RBB, interested parties can refer to the comprehensive details provided in RBB’s official press release. The collaboration between RBB and Faegre Drinker serves as a testament to the value of strategic partnerships and legal expertise in shaping innovative solutions and driving progress within the financial services sector.