Assertion: fund's investment policy | /r/HasProperty | authorized by shareholder vote
Facets:
Source sentences:
text: " Section 13(a) of the 1940 Act requires the approval of a majority of a registered investment company's outstanding voting securities to: (i) change its subclassification from a closed-end to an open-end investment management company or its subclassification from a diversified to a nondiversified company; (ii) borrow money, issue senior securities, underwrite securities issued by other persons, purchase or sell real estate or commodities or make loans to other persons, except in each case in accordance with the recitals of policy contained in its registration statement; (iii) deviate from its policy in respect of concentration of investments in any particular industry or group of industries as recited in its registration statement, deviate from any investment policy which is changeable only if authorized by shareholder vote, or deviate from any policy recited in its registration statement pursuant to section 8(b)(3) of the 1940 Act; or (iv) change the nature of its business so as to cease to be an investment company