All mutual funds must register with the SEC in a shared (series) trust or in a standalone trust format.
This type of trust is composed of independent funds, all managed by separate advisors. This means your fund would be registered in a trust with other funds, but you are still fully in control of managing your fund as an independent advisor. Your fund would share some costs with other funds in the trust, easing the financial burden for you for costs incurred while running a fund.
Specifically, series trusts offer many advantages that may not be achievable through a standalone trust, including:
- Access to trust level selling agreements, if applicable
- Increased operational efficiencies, as funds in the trust share directors/trustees, chief compliance officers, presidents, and other officers as required by the SEC
- Reduced operating costs as expenses such as those for auditors, fund counsel, insurance, legal, trustees, blue sky, and more are shared by a group of advisors
- The ability to attract qualified board members who possess the expertise to provide proper board compliance and oversight
- Freedom for you to focus on portfolio and relationship management
Gemini offers access to multiple series trusts, giving you several options to meet your needs.
Your fund(s) is the only fund in a standalone trust. Your firm is responsible for all costs for your fund(s); however, Gemini will help you form your own board of trustees and align all other services the trust needs.
Learn more about the differences in timelines and costs between a series and standalone trust.