On September 20, 2023, in a 4-1 vote, the US Securities and Exchange Commission (SEC) adopted amendments (the Amendments) to the rule governing fund names, which impose new disclosure, compliance, reporting, and recordkeeping requirements on certain funds. The Amendments expand the scope of Rule 35d-1 (the Names Rule) under the Investment Company Act of 1940 to apply to any fund name that includes terms that suggest a focus on investments that have, or investments whose issuers have, “particular characteristics” and will require an 80% investment policy for such funds.