Prohibited Transaction Class Exemption

[Guest Pennysaver]

Isn't there a Prohibited Transaction Class Exemption permitting an investment company to invest in its own mutual funds through a qualified plan that it sponsors? Is it PTE 77-3 (for open funds)? (PTE 79-13 for closed funds?)

What if the funds are invested in the employer securities of the investment company itself? Is there a different class exemption that applies?

[jpod]

While there might be a 406(b) issue due to the mutual fund's investment in the securities of the investment advisor/manager, why do you think 77-3 and 79-13 would not provide an exemption? There is no 407 PT because the assets of the mutual fund are not "plan assets" subject to ERISA.