Final Exemption

This document is about a class exemption granted by the U.S. Department of Labor and the Internal Revenue Service that allows employee benefit plans to purchase and sell shares of registered, open-end investment companies when the investment adviser for the investment company is also a fiduciary with respect to the plan. The exemption sets forth the conditions under which this transaction is permissible, including requirements related to sales commissions, redemption fees, investment advisory fees, and approval by an independent fiduciary.