Notice2026-08570

Multi-Class ETF Fund Exemptive Relief Under the Investment Company Act of 1940

Primary source

Metadata and text below are from the Federal Register, a public-domain U.S. government work. Always verify the official published version before relying on it for any legal matter.

Published
May 4, 2026

Issuing agencies

Securities and Exchange Commission

Full Text

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<title>Federal Register, Volume 91 Issue 85 (Monday, May 4, 2026)</title>
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[Federal Register Volume 91, Number 85 (Monday, May 4, 2026)]
[Notices]
[Pages 24025-24028]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2026-08570]


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SECURITIES AND EXCHANGE COMMISSION

[Investment Company Act Release No. 36136]


Multi-Class ETF Fund Exemptive Relief Under the Investment 
Company Act of 1940

April 29, 2026.
AGENCY: Securities and Exchange Commission (``Commission'' or ``SEC'').

ACTION: Notice.

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    Notice of applications under section 6(c) of the Investment Company 
Act of 1940 (``Act''), each for an exemption from sections 2(a)(32), 
5(a)(1), 18(f)(1), 18(i), 22(d) and 22(e) of the Act and rule 22c-1 
under the Act and under sections 6(c) and 17(b) of the Act for an 
exemption from sections 17(a)(1) and 17(a)(2) of the Act.

SUMMARY OF APPLICATION:  In each case, the Applicants listed in the 
relevant paragraph below request an order (``Order'') that would permit 
a registered open-end management investment company to offer one class 
of exchange-traded shares that operates as an exchange-traded fund (an 
``ETF Class,'' and such shares, ``ETF Shares'') and one or more classes 
of shares that are not exchange-traded (each such class, a

[[Page 24026]]

``Mutual Fund Class,'' and such shares, ``Mutual Fund Shares,'' and 
each such fund, a ``Multi-Class ETF Fund''). Each Order would provide 
Multi-Class ETF Funds with two broad categories of relief: (i) the 
relief necessary to permit standard exchange-traded fund (``ETF'') 
operations consistent with Rule 6c-11 under the Act (``ETF Operational 
Relief'') and (ii) the relief necessary for a fund to offer an ETF 
Class and one or more Mutual Fund Classes (``ETF Class Relief'').

HEARING OR NOTIFICATION OF HEARING:  An order granting the relevant 
application referenced below will be issued unless the SEC orders a 
hearing on that application. Interested persons may request a hearing 
on any application by emailing the SEC's Secretary at <a href="/cdn-cgi/l/email-protection#ebb88e88998e9f8a999298c6a48d8d82888eab988e88c58c849d"><span class="__cf_email__" data-cfemail="2d7e484e5f48594c5f545e00624b4b444e486d5e484e034a425b">[email&#160;protected]</span></a> and serving the relevant applicant with a copy of the 
request by email, if an email address is listed for the relevant 
applicant below, or personally or by mail, if a physical address is 
listed for the relevant applicant below. The email should include the 
file number referenced below. Hearing requests should be received by 
the SEC by 5:30 p.m., Eastern time, on May 26, 2026, and should be 
accompanied by proof of service on applicants, in the form of an 
affidavit or, for lawyers, a certificate of service. Pursuant to Rule 
0-5 under the Act, hearing requests should state the nature of the 
writer's interest, any facts bearing upon the desirability of a hearing 
on the matter, the reason for the request, and the issues contested. 
Persons who wish to be notified of a hearing may request notification 
by writing to the Commission's Secretary at <a href="/cdn-cgi/l/email-protection#4615232534233227343f356b0920202f25230635232568212930"><span class="__cf_email__" data-cfemail="4615232534233227343f356b0920202f25230635232568212930">[email&#160;protected]</span></a>.

ADDRESSES: The Commission: <a href="/cdn-cgi/l/email-protection#d182b4b2a3b4a5b0a3a8a2fc9eb7b7b8b2b491a2b4b2ffb6bea7"><span class="__cf_email__" data-cfemail="b1e2d4d2c3d4c5d0c3c8c29cfed7d7d8d2d4f1c2d4d29fd6dec7">[email&#160;protected]</span></a>.

FOR FURTHER INFORMATION CONTACT: The relevant person listed under each 
application below, at (202) 551-6825 (Division of Investment 
Management, Chief Counsel's Office).

SUPPLEMENTARY INFORMATION: For Applicants' representations, legal 
analysis, and conditions, please refer to Applicants' application, 
which may be obtained via the Commission's website by searching for the 
applicable file number listed below, or for an applicant using the 
Company name search field, on the SEC's EDGAR system. The SEC's EDGAR 
system may be searched at <a href="https://www.sec.gov/search-filings">https://www.sec.gov/search-filings</a>. You may 
also call the SEC's Office of Investor Education and Assistance at 
(202) 551-8090.

Artisan Partners Funds, Inc., et al. [File No. 812-15995]

    Applicants: Artisan Partners Funds, Inc. and Artisan Partners 
Limited Partnership.
    Filing Date: The application was filed on February 20, 2026 and 
amended on April 23, 2026.
    Addresses: Laura E. Simpson, Artisan Partners Funds, Inc., 875 East 
Wisconsin Avenue, Suite 800, Milwaukee, Wisconsin 53202, 
<a href="/cdn-cgi/l/email-protection#c2aea3b7b0aba7ecb1abafb2b1adac82a3b0b6abb1a3acb2a3b0b6aca7b0b1eca1adaf"><span class="__cf_email__" data-cfemail="3a565b4f48535f144953574a4955547a5b484e53495b544a5b484e545f484914595557">[email&#160;protected]</span></a>; Brian D. McCabe, Esq. and Jimena A. 
Smith, Esq., Ropes & Gray LLP, <a href="/cdn-cgi/l/email-protection#f8ba8a919996d6b59bbb999a9db88a97889d8b9f8a9981d69b9795"><span class="__cf_email__" data-cfemail="2f6d5d464e4101624c6c4e4d4a6f5d405f4a5c485d4e56014c4042">[email&#160;protected]</span></a> and 
<a href="/cdn-cgi/l/email-protection#672d0e0a02090649340a0e130f2715081702140015061e4904080a"><span class="__cf_email__" data-cfemail="ce84a7a3aba0afe09da3a7baa68ebca1beabbda9bcafb7e0ada1a3">[email&#160;protected]</span></a>.
    For Further Information Contact: Asaf Barouk, Senior Counsel, or 
Kaitlin C. Bottock, Assistant Chief Counsel.

Bondbloxx ETF Trust, et al. [File No. 812-15665]

    Applicants: BondBloxx ETF Trust and BondBloxx Investment Management 
Corporation.
    Filing Dates: The application was filed on December 4, 2024 and 
amended on January 27, 2026.
    Addresses: Joanna Gallegos, BondBloxx Investment Management 
Corporation, 700 Larkspur Landing Circle, Suite 250, Larkspur, CA 
94939, <a href="/cdn-cgi/l/email-protection#036a6d656c43416c6d67416f6c7b7b4657452d606c6e"><span class="__cf_email__" data-cfemail="325b5c545d72705d5c56705e5d4a4a7766741c515d5f">[email&#160;protected]</span></a>; Edward Baer, Ropes & Gray LLP, Three 
Embarcadero Center, San Francisco, CA 94111, <a href="/cdn-cgi/l/email-protection#ade8c9daccdfc983efccc8dfeddfc2ddc8decadfccd483cec2c0"><span class="__cf_email__" data-cfemail="b9fcddced8cbdd97fbd8dccbf9cbd6c9dccadecbd8c097dad6d4">[email&#160;protected]</span></a>.
    For Further Information Contact: Kris Easter Guidroz, Senior 
Counsel, Trace W. Rakestraw, Senior Special Counsel, or Kaitlin C. 
Bottock, Assistant Chief Counsel.

Brinker Capital Destinations Trust, et al. [File No. 812-15943]

    Applicants: Brinker Capital Destinations Trust and Orion Portfolio 
Solutions, LLC.
    Filing Date: The application was filed on November 19, 2025.
    Addresses: Brian Ferko, Brinker Capital Destinations Trust, 1055 
Westlakes Drive, Suite 250, Berwyn, PA 19312, <a href="/cdn-cgi/l/email-protection#cba9b9a2aaa5e5adaeb9a0a48ba4b9a2a4a5e5a8a4a6"><span class="__cf_email__" data-cfemail="c5a7b7aca4abeba3a0b7aeaa85aab7acaaabeba6aaa8">[email&#160;protected]</span></a>; 
John J. O'Brien, Esq. and Lauren A. Engel, Esq. Morgan, Lewis & Bockius 
LLP, <a href="/cdn-cgi/l/email-protection#6d0702050343020f1f0408032d00021f0a0c0301081a041e430e0200"><span class="__cf_email__" data-cfemail="12787d7a7c3c7d70607b777c527f7d6075737c7e77657b613c717d7f">[email&#160;protected]</span></a> and <a href="/cdn-cgi/l/email-protection#9ff3feeaedfaf1b1faf1f8faf3dff2f0edf8fef1f3fae8f6ecb1fcf0f2"><span class="__cf_email__" data-cfemail="e884899d9a8d86c68d868f8d84a885879a8f8986848d9f819bc68b8785">[email&#160;protected]</span></a>.
    For Further Information Contact: Asaf Barouk, Senior Counsel, or 
Kaitlin C. Bottock, Assistant Chief Counsel.

First Eagle Funds, et al. [File No. 812-15683]

    Applicants: First Eagle Funds, First Eagle ETF Trust, The RBB Fund 
Trust, and First Eagle Investment Management, LLC.
    Filing Dates: The application was filed on December 31, 2024 and 
amended on November 14, 2025 and April 24, 2025.
    Addresses: Sheelyn Michael, First Eagle Funds, 1345 Avenue of the 
Americas, New York, NY 10105; George Raine, Esq., Ropes & Gray LLP, 
Prudential Tower, 800 Boylston Street, Boston, Massachusetts 02199.
    For Further Information Contact: Kris Easter Guidroz, Senior 
Counsel, or or Kaitlin C. Bottock, Assistant Chief Counsel.

FMI Funds, Inc., et al. [File No. 812-15891]

    Applicants: FMI Funds, Inc. and Fiduciary Management, Inc.
    Filing Date: The application was filed on September 4, 2025 and 
amended on December 22, 2025.
    Addresses: John S. Brandser, Fiduciary Management, Inc., 790 North 
Water Street, Suite 2100, Milwaukee, Wisconsin 53202, 
<a href="/cdn-cgi/l/email-protection#7c161e0e1d12180f190e3c1a1115111b08521f1311"><span class="__cf_email__" data-cfemail="573d352536393324322517313a3e3a30237934383a">[email&#160;protected]</span></a>; Peter D. Fetzer, Foley & Lardner LLP, 
<a href="/cdn-cgi/l/email-protection#4c3c2a293836293e0c2a23202935622f2321"><span class="__cf_email__" data-cfemail="deaeb8bbaaa4bbac9eb8b1b2bba7f0bdb1b3">[email&#160;protected]</span></a>.
    For Further Information Contact: Asaf Barouk, Senior Counsel, or 
Kaitlin C. Bottock, Assistant Chief Counsel.

Investment Managers Series Trust, et al. [File No. 812-15691]

    Applicants: Investment Managers Series Trust and Advisors Asset 
Management, Inc.
    Filing Date: The application was filed on January 15, 2025 and 
amended on May 2, 2025, June 26, 2025 and January 23, 2026.
    Addresses: Diane Drake, Esq., Secretary, Investment Managers Series 
Trust, <a href="/cdn-cgi/l/email-protection#ec88858d8289c2889e8d8789ac818a8d8fc1d08dcc849e898ad1" http: ca.com">ca.com</a>">diane.drake@mfac-<a href="http://ca.com">ca.com</a></a>; Debra Fisherman, CFA and Giacomo 
Guardavaccaro, Advisors Asset Management, Inc., 
<a href="/cdn-cgi/l/email-protection#abcfcec9d9ca85cdc2d8c3ced9c6cac5ebcacac6c7c2ddce85c8c4c6"><span class="__cf_email__" data-cfemail="7b1f1e19091a551d1208131e09161a153b1a1a1617120d1e55181416">[email&#160;protected]</span></a> and <a href="/cdn-cgi/l/email-protection#ec8b858d8f838183c28b998d9e888d9a8d8f8f8d9e83ac8d8d8180859a89c28f8381"><span class="__cf_email__" data-cfemail="04636d65676b696b2a6371657660657265676765766b44656569686d72612a676b69">[email&#160;protected]</span></a>; and 
Laurie A. Dee, Morgan, Lewis & Bockius LLP, <a href="/cdn-cgi/l/email-protection#8ce0edf9fee5e9a2e8e9e9cce1e3feebede2e0e9fbe5ffa2efe3e1"><span class="__cf_email__" data-cfemail="600c01151209054e040505200d0f1207010e0c051709134e030f0d">[email&#160;protected]</span></a>.
    For Further Information Contact: Laura L. Solomon, Senior Counsel, 
or Kaitlin C. Bottock, Assistant Chief Counsel.

Janus Investment Fund, et al. [File No. 812-15607]

    Applicants: Janus Investment Fund and Janus Henderson Investors US 
LLC
    Filing Date: The application was filed on July 31, 2024 and amended 
on November 25, 2025.
    Addresses: Stephanie Grauerholz, Janus Henderson Investors, 151 
Detroit Street, Denver, CO 80206; Matthew R. DiClemente, Esq. and 
Michael W. Mundt, Esq., Stradley Ronon Stevens &

[[Page 24027]]

Young, LLP, <a href="/cdn-cgi/l/email-protection#7c1118151f101911191208193c0f080e1d18101905521f1311"><span class="__cf_email__" data-cfemail="f39e979a909f969e969d8796b380878192979f968add909c9e">[email&#160;protected]</span></a> and <a href="/cdn-cgi/l/email-protection#bad7d7cfd4decefac9cec8dbded6dfc394d9d5d7"><span class="__cf_email__" data-cfemail="83eeeef6ede7f7c3f0f7f1e2e7efe6faade0ecee">[email&#160;protected]</span></a>.
    For Further Information Contact: Asaf Barouk, Senior Counsel, or 
Trace W. Rakestraw, Senior Special Counsel.

Managed Portfolio Series, et al. [File No. 812-15967]

    Applicants: Managed Portfolio Series and Kensington Asset 
Management, LLC.
    Filing Date: The application was filed on January 7, 2026 and 
amended on April 23, 2026.
    Addresses: William Bower, Kensington Asset Management, LLC, 901 S 
Mopac Expressway, Building II Suite 225, Austin, TX 78746; and 
Christopher D. Menconi, Morgan, Lewis & Bockius LLP, 
<a href="/cdn-cgi/l/email-protection#f4979c869d87809b849c9186da99919a979b9a9db4999b8693959a9891839d87da979b99"><span class="__cf_email__" data-cfemail="43202b312a30372c332b26316d2e262d202c2d2a032e2c3124222d2f26342a306d202c2e">[email&#160;protected]</span></a>.
    For Further Information Contact: Laura L. Solomon, Senior Counsel, 
Trace W. Rakestraw, Senior Special Counsel, or Kaitlin C. Bottock, 
Assistant Chief Counsel.

Managed Portfolio Series, et al. [File No. 812-16000]

    Applicants: Managed Portfolio Series and Leuthold Group, LLC dba 
Leuthold Weeden Capital Management.
    Filing Dates: The application was filed on March 3, 2026 and 
amended on April 24, 2026.
    Addresses: Jason M. Venner, Secretary, Managed Portfolio Series, 
615 East Michigan Street, Milwaukee, Wisconsin 53202, 
<a href="/cdn-cgi/l/email-protection#5a303b293534742c3f34343f281a2f29383b343174393537"><span class="__cf_email__" data-cfemail="5a303b293534742c3f34343f281a2f29383b343174393537">[email&#160;protected]</span></a>; Glenn R. Larson, Leuthold Group, LLC dba 
Leuthold Weeden Capital Management, 150 South Fifth Street, Suite 1700, 
Minneapolis, MN 55402, <a href="/cdn-cgi/l/email-protection#22454e4350514d4c624e55414f0c414d4f"><span class="__cf_email__" data-cfemail="caada6abb8b9a5a48aa6bda9a7e4a9a5a7">[email&#160;protected]</span></a>; Christopher D. Menconi, 
Morgan, Lewis & Bockius LLP, <a href="/cdn-cgi/l/email-protection#81e2e9f3e8f2f5eef1e9e4f3afece4efe2eeefe8c1eceef3e6e0efede4f6e8f2afe2eeec"><span class="__cf_email__" data-cfemail="315259435842455e415954431f5c545f525e5f58715c5e4356505f5d544658421f525e5c">[email&#160;protected]</span></a>.
    For Further Information Contact: Kris Easter Guidroz, Senior 
Counsel, Trace W. Rakestraw, Senior Special Counsel, or Kaitlin C. 
Bottock, Assistant Chief Counsel.

Manning & Napier Fund, Inc., et al. [File No. 812-15999]

    Applicants: Manning & Napier Fund, Inc. and Manning & Napier 
Advisors, LLC.
    Filing Dates: The application was filed on March 2, 2026.
    Addresses: Paul J. Battaglia c/o Manning & Napier Fund, Inc., 
<a href="/cdn-cgi/l/email-protection#a7d7c5c6d3d3c6c0cbcec6e7cac6c9c9cec9c08a9bc687cfd5c2c19a" http: napier.com">napier.com</a>">pbattaglia@manning-<a href="http://napier.com">napier.com</a></a>; Sean Graber and Timothy W. Levin, 
Morgan, Lewis & Bockius LLP, <a href="/cdn-cgi/l/email-protection#4b382e2a25652c392a292e390b2624392c2a25272e3c223865282426"><span class="__cf_email__" data-cfemail="d3a0b6b2bdfdb4a1b2b1b6a193bebca1b4b2bdbfb6a4baa0fdb0bcbe">[email&#160;protected]</span></a> and 
<a href="/cdn-cgi/l/email-protection#7f0b1612100b170651131a0916113f12100d181e11131a08160c511c1012"><span class="__cf_email__" data-cfemail="394d5054564d514017555c4f50577954564b5e5857555c4e504a175a5654">[email&#160;protected]</span></a>.
    For Further Information Contact: Deepak T. Pai, Senior Counsel, or 
Kaitlin C. Bottock, Assistant Chief Counsel.

The Payden & Rygel Investment Group, et al. [File No. 812-15892]

    Applicants: The Payden & Rygel Investment Group and Payden and 
Rygel.
    Filing Dates: The application was filed on September 4, 2025 and 
amended on November 25, 2025.
    Addresses: Reza Pishva, 333 South Grand Avenue, 40th Floor, Los 
Angeles, California 90071, <a href="/cdn-cgi/l/email-protection#9defedf4eef5ebfcddedfce4f9f8f3b3fef2f0"><span class="__cf_email__" data-cfemail="71030118021907103101100815141f5f121e1c">[email&#160;protected]</span></a>; Arthur L. Zwickel, Esq., 
Paul Hastings LLP, 515 S. Flower St., Los Angeles, California 90071.
    For Further Information Contact: Asaf Barouk, Senior Counsel, or 
Kaitlin C. Bottock, Assistant Chief Counsel.

PRIMECAP Odyssey Funds, et al. [File No. 812-16015]

    Applicants: PRIMECAP Odyssey Funds and PRIMECAP Management Company.
    Filing Date: The application was filed on April 8, 2026.
    Addresses: Michael J. Ricks, Secretary, PRIMECAP Odyssey Funds, 
<a href="/cdn-cgi/l/email-protection#5f322d363c342c1f2f2d36323a3c3e2f713c3032"><span class="__cf_email__" data-cfemail="dfb2adb6bcb4ac9fafadb6b2babcbeaff1bcb0b2">[email&#160;protected]</span></a>; and Laurie A. Dee, Morgan, Lewis & Bockius LLP, 
<a href="/cdn-cgi/l/email-protection#80ece1f5f2e9e5aee4e5e5c0edeff2e7e1eeece5f7e9f3aee3efed"><span class="__cf_email__" data-cfemail="1975786c6b707c377d7c7c5974766b7e7877757c6e706a377a7674">[email&#160;protected]</span></a>.
    For Further Information Contact: Laura L. Solomon, Senior Counsel, 
or Kaitlin C. Bottock, Assistant Chief Counsel.

ProShares Trust, et al. [File No. 812-15942]

    Applicants: ProShares Trust, ProFunds, Access One Trust, ProShare 
Advisors LLC, and ProFund Advisors LLC.
    Filing Date: The application was filed on November 18, 2025.
    Addresses: Richard Morris, General Counsel, ProShare Advisors LLC, 
7272 Wisconsin Avenue, 21st Floor, Bethesda, MD 20814, 
<a href="/cdn-cgi/l/email-protection#20524d4f525249536050524f5348415245530e434f4d"><span class="__cf_email__" data-cfemail="71031c1e030318023101031e0219100314025f121e1c">[email&#160;protected]</span></a>; Allison M. Fumai, Esq., Mark D. Perlow, Esq., 
and Adam T. Teufel, Esq., Dechert LLP, <a href="/cdn-cgi/l/email-protection#442528282d372b2a6a223129252d042021272c2136306a272b29"><span class="__cf_email__" data-cfemail="27464b4b4e5448490941524a464e674342444f4255530944484a">[email&#160;protected]</span></a>, 
<a href="/cdn-cgi/l/email-protection#127f7360793c6277607e7d65527677717a7760663c717d7f"><span class="__cf_email__" data-cfemail="234e4251480d5346514f4c54634746404b4651570d404c4e">[email&#160;protected]</span></a> and <a href="/cdn-cgi/l/email-protection#5c3d383d31722839293a39301c38393f34392e28723f3331"><span class="__cf_email__" data-cfemail="b8d9dcd9d596ccddcddeddd4f8dcdddbd0ddcacc96dbd7d5">[email&#160;protected]</span></a>.
    For Further Information Contact: Asaf Barouk, Senior Counsel, or 
Kaitlin C. Bottock, Assistant Chief Counsel.

RBC Funds Trust, et al. [File No. 812-15971]

    Applicants: RBC Funds Trust and RBC Global Asset Management (U.S.) 
Inc.
    Filing Date: The application was filed on January 9, 2026.
    Addresses: Tara Tilbury, RBC Global Asset Management (U.S.) Inc., 
250 Nicollet Mall, Suite 1550, Minneapolis, MN 55401, 
<a href="/cdn-cgi/l/email-protection#e692879487c8928f8a8493949fa6948485c885898b"><span class="__cf_email__" data-cfemail="285c495a49065c41444a5d5a51685a4a4b064b4745">[email&#160;protected]</span></a>; Stephen T. Cohen, Esq. and Adam T. Teufel, Esq., 
Dechert LLP, <a href="/cdn-cgi/l/email-protection#ee9d9a8b9e868b80c08d81868b80ae8a8b8d868b9c9ac08d8183"><span class="__cf_email__" data-cfemail="fd8e89988d959893d39e92959893bd99989e95988f89d39e9290">[email&#160;protected]</span></a> and <a href="/cdn-cgi/l/email-protection#14757075793a607161727178547071777c7166603a777b79"><span class="__cf_email__" data-cfemail="6d0c090c00431908180b08012d09080e05081f19430e0200">[email&#160;protected]</span></a>.
    For Further Information Contact: Asaf Barouk, Senior Counsel, or 
Kaitlin C. Bottock, Assistant Chief Counsel.

Tortoise Capital Series Trust, et al. [File No. 812-15817]

    Applicants: Tortoise Capital Series Trust and Tortoise Capital 
Advisors, L.L.C.
    Filing Dates: The application was filed on May 28, 2025 and amended 
on November 19, 2025.
    Addresses: Tom Florence and Jeffrey S. Kruske, Tortoise Capital 
Advisors, L.L.C. and Tortoise Capital Series Trust, 5901 College 
Boulevard, Suite 400, Overland Park, Kansas 66211; Deborah Bielicke 
Eades and Nathaniel Segal, Vedder Price P.C., <a href="/cdn-cgi/l/email-protection#cfabaaaeabaabc8fb9aaababaabdbfbda6acaae1aca0a2"><span class="__cf_email__" data-cfemail="f7939296939284b781929393928587859e9492d994989a">[email&#160;protected]</span></a> 
and <a href="/cdn-cgi/l/email-protection#4f213c2a282e230f392a2b2b2a3d3f3d262c2a612c2022"><span class="__cf_email__" data-cfemail="0f617c6a686e634f796a6b6b6a7d7f7d666c6a216c6062">[email&#160;protected]</span></a>.
    For Further Information Contact: Deepak T. Pai, Senior Counsel, or 
Trace W. Rakestraw, Senior Special Counsel.

Trust for Professional Managers, et al. [File No. 812-15919]

    Applicants: Trust for Professional Managers and Mairs & Power, Inc.
    Filing Date: The application was filed on October 21, 2025 and 
amended on March 31, 2026.
    Addresses: Jay S. Fitton, Secretary, Trust for Professional 
Managers, c/o U.S. Bank Global Fund Services, 615 East Michigan Street, 
2nd Floor, Milwaukee, Wisconsin 53202; Brent M. Williams, Esq., Mairs & 
Power, Inc., <a href="/cdn-cgi/l/email-protection#abc9dcc2c7c7c2cac6d8ebc6cac2d9d8cac5cfdbc4dcced985c8c4c6"><span class="__cf_email__" data-cfemail="cdafbaa4a1a1a4aca0be8da0aca4bfbeaca3a9bda2baa8bfe3aea2a0">[email&#160;protected]</span></a>; Carol A. Gehl, Esq. and 
Christopher M. Cahlamer, Esq., Godfrey & Kahn, S.C., <a href="/cdn-cgi/l/email-protection#e28185878a8ea285898e8395cc818d8f"><span class="__cf_email__" data-cfemail="741713111c1834131f1815035a171b19">[email&#160;protected]</span></a> 
and <a href="/cdn-cgi/l/email-protection#2d4e4e4c45414c40485f6d4a46414c5a034e4240"><span class="__cf_email__" data-cfemail="7c1f1f1d14101d11190e3c1b17101d0b521f1311">[email&#160;protected]</span></a>.
    For Further Information Contact: Asaf Barouk, Senior Counsel, 
Kaitlin C. Bottock, Assistant Chief Counsel.

Trust for Professional Managers, et al. [File No. 812-15857]

    Applicants: Trust for Professional Managers and PT Asset 
Management, LLC.
    Filing Dates: The application was filed on July 17, 2025 and 
amended on October 16, 2025, and April 1, 2026.
    Addresses: Jay S. Fitton, Trust for Professional Managers, c/o U.S. 
Bank Global Fund Services, 615 East Michigan Street, 2nd Floor, 
Milwaukee, Wisconsin 53202; Steven Hayes and Annie Duffy, Esq., PT 
Asset Management, LLC, 500 West Madison Street, Suite 470, Chicago, IL 
60661;

[[Page 24028]]

Kevin R. Gustafson, Esq., K&L Gates LLP, 70 West Madison Street, Suite 
3300, Chicago, IL 60602, <a href="/cdn-cgi/l/email-protection#ca81afbca3a4e48dbfb9beabacb9a5a48aa1a6adabbeafb9e4a9a5a7"><span class="__cf_email__" data-cfemail="1f547a69767131586a6c6b7e796c70715f7473787e6b7a6c317c7072">[email&#160;protected]</span></a>; Carol A. Gehl, 
Esq., Godfrey & Kahn, S.C., 833 East Michigan Street, Suite 1800, 
Milwaukee, Wisconsin 53202, <a href="/cdn-cgi/l/email-protection#b2d1d5d7dadef2d5d9ded3c59cd1dddf"><span class="__cf_email__" data-cfemail="c0a3a7a5a8ac80a7abaca1b7eea3afad">[email&#160;protected]</span></a>.
    For Further Information Contact: Kris Easter Guidroz, Senior 
Counsel, or Trace W. Rakestraw, Senior Special Counsel.

William Blair Funds, et al. [File No. 812-15980]

    Applicants: William Blair Funds and William Blair Investment 
Management, LLC.
    Filing Date: The application was filed on January 29, 2026.
    Addresses: Cissie Citardi, William Blair Investment Management, 
LLC, <a href="/cdn-cgi/l/email-protection#2a4949435e4b584e436a5d434646434b4748464b435804494547"><span class="__cf_email__" data-cfemail="96f5f5ffe2f7e4f2ffd6e1fffafafff7fbf4faf7ffe4b8f5f9fb">[email&#160;protected]</span></a>; Allison M. Fumai, Esq. and Stephanie A. 
Capistron, Esq., Dechert LLP, 1095 Avenue of the Americas, New York, NY 
10036.
    For Further Information Contact: Laura L. Solomon, Senior Counsel, 
or Kaitlin C. Bottock, Assistant Chief Counsel.

    For the Commission, by the Division of Investment Management, 
under delegated authority.
Vanessa A. Countryman,
Secretary.
[FR Doc. 2026-08570 Filed 5-1-26; 8:45 am]
BILLING CODE 8011-01-P


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Indexed from Federal Register on May 4, 2026.

This is legal information, not legal advice. Laws vary by jurisdiction and change frequently. Always verify current law with official sources and consult a licensed attorney in your jurisdiction for advice on your specific situation.