F/m Investments and The RBB Fund Launch Multi-Share Class Era with Historical First Trade

NEW YORK--(BUSINESS WIRE)--The RBB Fund Complex (“RBB”) proudly congratulates F/m Investments on the historic launch and trade of a multi-share class structure with both a mutual fund share class and an exchange-traded fund (“ETF”) share class, the first under the modern SEC exemptive order. This achievement is a significant milestone for both F/m and the broader financial industry, further solidifying the firm’s position as a leader in financial services innovation.

This monumental launch marks the culmination of a long and diligent process that began in 2023. Throughout this journey, many individuals and organizations have played a crucial role, including F/m’s counsel Aisha Hunt at Kelley Hunt, LLC, RBB’s counsel Faegre Drinker Biddle & Reath LLP and U.S. Bank Global Fund Services. Their collective expertise, dedication, and hard work have been integral to bringing this innovative structure to market.

"We are thrilled to see Alexander Morris and the team at F/m Investments continue to break new ground,” said Arnold Reichman, Chairman of the RBB Board. “Their work exemplifies a forward-thinking approach to the evolving landscape of ETFs and mutual funds. At RBB, we firmly believe in the power of collaboration with our fund managers to foster industry-wide change, and this development is a perfect example of that partnership in action. It’s an exciting time for the industry, and we are proud to support F/m’s efforts in blazing new trails."

The RBB Fund Complex has long been a supporter of innovation in the financial services space. Recent initiatives include a request for exemptive relief from the Securities and Exchange Commission to permit tokenization of an ETF, mutual fund-to-ETF conversions, and the first known creation of an ETF utilizing a transaction under Section 351 of the Internal Revenue Code. This multi-share class offering is another testament to RBB’s unwavering commitment to work with managers to drive impactful changes and create cutting-edge investment solutions.

“This multi-share class listing would not have been possible without the collective vision and guidance of the RBB team,” said Alexander Morris, CEO of F/m Investments. “Their continued commitment has been crucial in empowering us to develop solutions that serve the evolving needs of investors. We look forward to continuing to work together to lead the industry forward.”

About The RBB Fund Complex

The RBB Fund, Inc. and The RBB Fund Trust together are a turnkey ETF and mutual fund solution that permits an investment adviser to focus on its core competency of asset management by shifting most responsibility for the establishment, servicing, and corporate governance of funds to RBB. RBB oversees approximately $40 billion in assets, supporting 21 separate investment advisers, over 20 unaffiliated sub-advisers, and a family of over 70 mutual funds and ETFs. For more information, please visit www.rbbfund.com.

About F/m Investments

F/m Investments, founded in 2018, is an $18 billion independent asset management firm focused on fixed income and a recognized innovator in ETFs. The firm offers a growing suite of ETFs, as well as mutual funds and separately managed account strategies, designed to meet the evolving needs of financial advisors, institutions, and individual investors. For more information, please visit www.fminvest.com.