Sentences with phrase «main differences between cits»

The complaint points out the two main differences between CITs and mutual funds, one of which is that, while ERISA explicitly excludes mutual fund managers from the definition of a fiduciary to the extent they are managing assets of a plan covered by ERISA, the trustees (and any sub-advisers they employ) of CITs are ERISA fiduciaries, according to Department of Labor (DOL) Advisory Opinion 2005 - 09A.