Bruce G. Leto

Executive Partner

Experience

  • Stradley Ronon Advises Dimensional Funds in Securing Exemptive Relief for ETF Share Class Structure

    As counsel to the Dimensional funds, Stradley Ronon prepared the application for exemptive relief recently granted by the U.S. Securities and Exchange Commission (SEC) to Dimensional Fund Advisors to offer exchange-traded funds (ETFs) as a share class within a multiple share class structure (ETF share class). The SEC issued its order on November 17 after Dimensional filed its third amended application on September 26 for relief from certain provisions of the Investment Company Act of 1940 to operate such funds.

    The ETF share class delivers potential tax efficiency to fund shareholders and promotes greater investor choice. Dimensional currently advises mutual funds and is also one of the largest active ETF sponsors ranked by assets under management. 

    Michael W. Mundt, Bruce G. Leto and Jana L. Cresswell

  • Dimensional Enters ETFs Space

    Stradley Ronon’s investment management group represented Dimensional funds and its independent directors in the launch of Dimensional ETF (exchange-traded funds) Trust, three new activity managed, tax-efficient ETFs. The new ETFs will broaden Dimensional Fund Advisor’s existing suite of mutual funds, separate accounts and commingled trusts. Dimensional will be one of the first asset managers to launch active transparent ETFs using SEC Rule 6c-11 and convert mutual funds into ETFs in this fashion.

    Bruce G. Leto, Jana L. Cresswell, Mark A. Sheehan, Michael W. Mundt, Brian Crowell, Miranda L. Sturgis, Joel D. Corriero, David W. Grim, Michael D. Mabry and J. Stephen Feinour Jr.

  • Bryn Mawr Trust Launches SEC-registered Mutual Fund

    Stradley Ronon advised Bryn Mawr Trust in connection with the launch of its new BMT Multi-Cap Fund. The mutual fund will allow Bryn Mawr Trust to offer one of its key investment management strategies to the mass market.

    Since 1889, the professionals at Bryn Mawr Trust have focused on helping individuals, families, businesses and organizations create, manage, preserve and transfer wealth. Bryn Mawr Trust is a wholly owned subsidiary of the Bryn Mawr Bank Corporation, a one-bank holding company publicly held and traded on NASDAQ (BMTC).

    Bruce G. Leto, Fabio Battaglia and Shawn A. Hendricks

  • Franklin Templeton Launches K2 Long Short Credit Fund

    Stradley Ronon assisted Franklin Templeton Investments in the launch of the Franklin K2 Long Short Credit Fund. The new mutual fund of hedge fund managers marks Franklin Templeton’s second multi-manager, multi-strategy mutual fund focused on alternative investments. The launch involved the drafting and filing of the registration statement; drafting and negotiating of service provider contracts, including subadvisory agreements with six unaffiliated investment management firms; and the reviewing and summarizing of the compliance programs of such firms for the board of trustees.

    Franklin Templeton is the fourth-largest registered funds group in the U.S. with $898 billion of assets under management. Since 1991, Stradley Ronon's investment management group has served as Franklin’s registered fund and advisor counsel.

    Bruce G. Leto, Kristin H. Ives, Fabio Battaglia, Amy C. Fitzsimmons and Jamie M. Gershkow

  • A 75-Year Partnership with Delaware Investments

    In 1928, Stradley Ronon Stevens & Young, LLP name partner Andrew Young established one of the first mutual funds in the United States, the Wellington Fund. Shortly thereafter, Mr. Young helped form the investment firm Delaware Management Company and also formed their flagship fund, the Delaware Fund. Stradley Ronon continues to represent both Delaware Investments and the Delaware Investments Funds today, serving as their mutual funds and advisor counsel.

    Bruce G. Leto, Lisa A. Duda, Michael D. Mabry, Jonathan M. Kopcsik and Taylor Brody

  • Trusted Advisor to Franklin Templeton and Its $898 Billion Portfolio

    As a global investment management organization with $898 billion in assets under management, Franklin Templeton's mutual funds  face many regulatory and compliance challenges. For more than 25 years, Stradley has advised Franklin as registered fund and advisor counsel. For example, Stradley Ronon's investment management team assisted on the creation of a manager-of-managers alternative strategies fund, which relied on a first-of-its-kind exemptive order that Stradley helped Franklin obtain. Also, we led on the formation of a new Franklin Templeton insurance product fund – a multi-strategy fund, portions of which are managed by various affiliated investment managers. Stradley also helped Franklin launch its first exchange-traded fund. In addition, we have worked with Franklin Templeton to implement the changes required by the Dodd-Frank Act of 2010. These regulatory changes have had a profound impact on asset managers and the regime in which they operate.

    Bruce G. Leto, Kristin H. Ives, Alison M. Fuller, Michael W. Mundt, Fabio Battaglia, Amy C. Fitzsimmons and J. Stephen Feinour Jr.

Firm Highlights