12.17.25

SEC Permits BlackRock, JPMorgan To Offer Dual-Share Class Funds

by: Emily Graffeo

The U.S. Securities and Exchange Commission (SEC) has approved exemptive relief allowing dozens of major asset managers, including BlackRock, JPMorgan, Fidelity Investments and State Street, to offer multi-share-class funds that combine mutual fund and exchange-traded fund (ETF) structures. The move lets firms add ETF share classes to mutual funds or vice versa, a change long sought by the industry and foreshadowed by earlier approval for Dimensional Fund Advisors. The decision is expected to help managers lower investors’ tax bills, increase flexibility in product design and compete more effectively as assets shift away from traditional mutual funds toward cheaper, more tradable ETFs.

Read the full article on Bloomberg