Pacer Funds Trust is asking shareholders to approve a manager-of-managers structure allowing Pacer Advisors to hire or change affiliated and unaffiliated sub-advisers without Shareholder approval. Each share carries one vote. The proposal also permits aggregated advisory-fee disclosure, while the Board recommends a “FOR” vote.

Key Highlights

  • The Board of Trustees recommends that shareholders vote “FOR” the proposal.
  • Shareholders are voting on a manager-of-managers structure for Pacer Funds Trust Funds.
  • The shareholder meeting will be held at 500 Chesterfield Parkway, Malvern, Pennsylvania 19,355.

Pacer Funds Trust is seeking approval for a manager-of-managers structure that would let Pacer Advisors hire or modify affiliated and unaffiliated sub-advisory arrangements without a separate shareholder vote. Each share of a Fund carries one vote on the proposal, giving eligible holders a direct decision on the requested authority.

Adviser Authority and Fee Disclosure

The proposal covers sub-advisers that are unaffiliated, wholly owned by Pacer Advisors or its parent company, partially owned by them, or otherwise affiliated with them. Pacer Advisors would retain ultimate responsibility for overseeing sub-advisers and recommending their hiring, termination and replacement, subject to Board oversight. The requested structure also would allow aggregate disclosure of fees payable to Pacer Advisors and wholly owned sub-advisers, alongside aggregate fees payable to unaffiliated sub-advisers.