Master Feeder Structure. If permitted by the 1940 Act or any exemptive order issued by the Commission or a rule or interpretation that may be adopted or issued by the Commission upon which the Trust or any Series relies, the Board of Trustees, by vote of a majority of the Trustees, and without a Shareholder vote, may cause the Trust or any one or more Series to convert to a master feeder structure (a structure in which a feeder fund invests all of its assets in a master fund, rather than making investments in securities directly) and thereby cause existing Series of the Trust to either become feeders in a master fund, or to become master funds in which other funds are feeders.
Appears in 31 contracts
Samples: Agreement and Declaration of Trust (Palmer Square Funds Trust), Agreement and Declaration of Trust (Grayscale Funds Trust), Agreement and Declaration of Trust (Palmer Square Funds Trust)
