SEC Exemption for Aston Funds & Asset Management under Investment Company Act, Exercises of Banking Law and Practice

Download SEC Exemption for Aston Funds & Asset Management under Investment Company Act and more Exercises Banking Law and Practice in PDF only on Docsity! UNITED STATES OF AMERICA BEFORE THE SECURITIES AND EXCHANGE COMMISSION INVESTMENT COMPANY ACT OF 1940 Release No. 29443 / September 27, 2010 ________________________________________________ In the Matter of : : Aston Funds : Aston Asset Management, LP : : 120 N. LaSalle St, 25th Floor : Chicago, IL 60602 : : (812-13775) : ________________________________________________: ORDER UNDER SECTION 12(d)(1)(J) OF THE INVESTMENT COMPANY ACT OF 1940 GRANTING AN EXEMPTION FROM SECTIONS 12(d)(1)(A) AND (B) OF THE ACT, UNDER SECTIONS 6(c) AND 17(b) OF THE ACT GRANTING AN EXEMPTION FROM SECTION 17(a) OF THE ACT, AND UNDER SECTION 6(c) OF THE ACT FOR AN EXEMPTION FROM RULE 12d1-2(a) UNDER THE ACT Aston Funds and Aston Asset Management, LP filed an application on May 21, 2010, and amendments to the application on August 11, 2010, and August 16, 2010, requesting an order under section 12(d)(1)(J) of the Investment Company Act of 1940 (the “Act”) granting an exemption from sections 12(d)(1)(A) and (B) of the Act, under sections 6(c) and 17(b) of the Act granting an exemption from sections 17(a)(1) and (2) of the Act, and under section 6(c) of the Act for an exemption from rule 12d1-2(a) under the Act. The order would (a) permit certain registered open-end management investment companies that operate as “funds of funds” to acquire shares of certain registered open-end management investment companies and unit investment trusts that are within and outside the same group of investment companies as the acquiring investment companies, and (b) permit funds of funds relying on rule 12d1-2 under the Act to invest in certain financial instruments. On August 26, 2010, a notice of the filing of the application was issued (Investment Company Act Release No. 29400). The notice gave interested persons an opportunity to request a hearing and stated that an order granting the application would be issued unless a hearing was ordered. No request for a hearing has been filed, and the Commission has not ordered a hearing.