A manager of mutual funds has taken the unusual step of adopting a series trust structure for certain funds previously launched in the 1990s. While the objective appears to be a reduction in costs, Amy Lynch, Founder and President of FrontLine, cites the change in structure as an extremely rare occurrence. Ms. Lynch notes that setting up a fund as series trust almost always happen at a fund’s launch and not later in their life cycle. See IGNITES (subscription required), “With Dwindling Assets, Third Avenue Chops Costs, Replaces Board”
