Rule 35d-1 Investment Company Names

Section 35(d) of the Investment Company Act of 1940 prohibits a registered investment company from adopting as part of the name or title of such company, or of any securities of which it is the issuer, any word or words that the Commission finds are materially deceptive or misleading. Rule 35d-1 under the Investment Company Act defines certain names of funds as “materially deceptive and misleading” for purposes of Section 35(d) unless a fund with one of those names adopts an investment policy to invest, under normal circumstances, at least 80% of the value of its assets in investments in accordance with the investment focus that the fund's name suggests (“80% investment policy”). Rule 35d-1 further requires either that the 80% investment policy be fundamental or that the fund has adopted a policy to provide its shareholders with at least 60 days prior notice of any change in the 80% investment policy. The rule, however, does not require that a fund file the notice to shareholders with the Commission.

The latest form for Rule 35d-1 Investment Company Names expires 2026-12-31 and can be found here.