EFFECTIVE JANUARY 19, 2022, THIS LETTER IS WITHDRAWN.
Please consult the following web page for more information: https://www.sec.gov/divisions/investment/im-modified-withdrawn-staff-statements.
Investment Company Act of 1940 — Rule 12d1-2
Dechert LLP — Request for Interpretation under Rule 12d1-2
January 25, 2017
RESPONSE OF THE CHIEF COUNSEL'S OFFICE
DIVISION OF INVESTMENT MANAGEMENT
Based on the analysis set forth in your letter of January 25, 2017, we agree that for the purposes of rule 12d1-2(a)(1) under the Investment Company Act of 1940 (“Act”) the term “group of investment companies,” as defined in section 12(d)(1)(G)(ii) of the Act, does not include closed-end investment companies. Accordingly, a registered open-end investment company or a registered unit investment trust may rely on rule 12d1-2(a)(1) to invest in a closed-end investment company regardless of whether the two companies hold themselves out to investors as related companies for purposes of investment and investor services.
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Jean E. Minarick |
Hae-Sung Lee |
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Senior Counsel |
Attorney-Adviser |
Incoming Letter
The Incoming Letter is in Acrobat format.
http://www.sec.gov/divisions/investment/noaction/2017/dechert-012517-12d1.htm