Investment Management Update - October 2015

Below is a summary of recent investment management developments that affect registered investment companies, private equity funds, hedge funds, investment advisers, and others in the investment management industry. Schwab Petitions Supreme Court to Review Decision that Affects Mutual Funds - Schwab Investments (Schwab) has petitioned the U.S. Supreme Court to review a decision which found Schwab liable for making risky investments through its Total Bond Market Fund in collateralized mortgage obligations (CMOs) despite fund guidelines that appeared to prohibit such investments.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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