Liquidation: Exchange Place Advisors Trust
Form Type: CORRESP
Filing Date: 2024-12-09
Corporate Action: Liquidation
Type: Update
Accession Number: 000158064224007478
Filing Summary: This correspondence addresses comments from the SEC regarding the Preliminary Proxy Statement for the Fort Pitt Capital Total Return Fund. It confirms that Fort Pitt will be liquidated once financial matters are resolved. The letter outlines the responsibilities of the Registrant regarding the accuracy of disclosures and discusses potential outcomes if the New Advisory Agreement is not approved, which may include the Fund's liquidation. Improvements in disclosure concerning expenses and regulatory risks have been incorporated following SEC staff feedback. It emphasizes that the Board is mindful of regulatory risk and its implications on costs. The letter confirms both Fort Pitt and its New Advisor have agreed to limit the Fund's expenses and clarifies voting and quorum requirements for the upcoming shareholder meeting.
Document Link: View Document
Additional details:
Comment Number: 1
Responsibility: Registrant and its management are responsible for the accuracy and adequacy of the disclosure.
Comment Number: 3
Fund Liquidation: Fort Pitt will be liquidated once various financial and corporate matters are finalized.
Comment Number: 4
Potential Alternatives: If the New Advisory Agreement is not approved, alternatives may include recommending other advisers or liquidating the Fund.
Comment Number: 5
Regulatory Risk: The increased regulatory risk refers to the New Advisor's cost of operations and will not result in additional costs to the Fund or its shareholders.
Comment Number: 6
Expense Cap: Both Fort Pitt and the New Advisor have contractually agreed to limit the Fund’s expenses.
Comment Number: 7
Broker Non Votes: Broker non-votes will not be counted as present for determining quorum.
Comment Number: 8
Adjournment: Proxies may propose to adjourn the Shareholder Meeting if insufficient votes to approve a Proposal are received.
Comments
No comments yet. Be the first to comment!