Earlier this month, the Investment Management group hosted a two-part series on Section 351 conversions – discussing how separately managed accounts (SMAs), limited partnership accounts (LPAs) and Mutual Funds can be converted to ETFs without triggering immediate capital gains tax. These sessions are now available on demand:
- Part 1: A brief overview of the legal, regulatory and tax framework of ETFs; the tax consequences of conversions and; how 351 conversions of SMAs, LPAs and mutual funds work.
- Part 2: A high-level discussion with Jason Marcus, COO and CCO of Scharf Investments, on the practical experience and considerations involved in executing 351 and mutual fund conversions.