What Is SEC Form 485A24F?

SEC Form 485A24F is a registration statement for separate accounts offered by management investment companies that contain post-effective amendments filed pursuant to Rule 485(a) with additional shares under Rule 24f-2.

The statement is governed by the Securities Act of 1933 and/or the Investment Company Act of 1940. SEC Form 485A24F cannot be submitted as an Investment Company Act of 1940-only filing; the original filing, or prospectus, must have preceded it. The Securities and Exchange Commission explicitly states that the prospectus and amendment filing(s) should be considered together by prospective investors.

Key Takeaways

  • SEC Form 485A24F is a registration statement for separate accounts offered by management investment companies that contain post-effective amendments filed pursuant to Rule 485(a) with additional shares under Rule 24f-2.
  • The purpose of SEC Form 485A24F is to set out complete details of securities offerings by an investment company with post-effective amendments to the offerings.
  •  SEC Form 485A24F cannot be submitted as an Investment Company Act of 1940-only filing; the original filing, or prospectus, must have preceded it.
  • The description of the funds includes investment objectives, managers and the fund management agreement, listing of portfolio securities, risk factors, investment restrictions, net asset value (NAV) calculation methodologies, redemption information, and other material disclosures.

Understanding SEC Form 485A24F

The purpose of SEC Form 485A24F is to set out complete details of securities offerings by an investment company with post-effective amendments to the offerings. The description of the funds includes investment objectives, managers and the fund management agreement, listing of portfolio securities, risk factors, investment restrictions, net asset value (NAV) calculation methodologies, redemption information, and other material disclosures. Amendments in the filing are discussed separately from the contents of the original filing.

Rule 485(a) of the Securities Act of 1933 says that a post-effective amendment filed by a registered open-end management investment company or unit investment trust shall become effective on the 60th day after the filing. Rule 24-f of the Investment Company Act of 1940 requires that open-end investment management companies and unit investment trusts that have registered an indefinite amount of securities must, not later than 90 days after the end of their fiscal year, file Form 24F-2 along with payment of registration fees for securities sold during the fiscal year.

Example of SEC Form 485A24F

The SEC maintains a public record of submitted Form 485A24Fs online. For example, this Form 485A24F submitted by the Dean Family Of Funds located in Dayton, Ohio outlines its four main funds: its large-cap value fund, small-cap value fund, balanced fund, and international value fund. The form includes information including:

  • The cover page and synopsis of the fund, including expense information
  • Condensed financial information and fund performance
  • Investment objectives, including policies and risk considerations as it relates to the operation of the funds
  • Purchase of securities being offered, including how to purchase shares, shareholder services, exchange privilege, and the calculation of share price and public offering
  • Redemption or repurchase of shares, including how to redeem shares