Investment Managers Series Trust III has made a significant update to its investment policy for the FPA Short Duration Government ETF. This change, effective immediately, allows the fund to adopt a non-fundamental policy regarding the acquisition of securities from other funds. This adjustment is important as it reflects a strategic move to enhance the fund's investment flexibility.

The FPA Short Duration Government ETF is a series of Investment Managers Series Trust III, which is incorporated in Delaware. The company has been active in the investment sector and is known for its management of various funds. The recent filing, dated November 3, 2026, indicates that the fund will now limit its acquisition of securities of investment companies to an aggregate amount not exceeding 10% of the fund's total assets, measured immediately after acquisition.

The filing states, "To the extent the Fund is an 'acquired fund' in a fund of funds arrangement relying on Rule 12d1-4 under the 1940 Act, the Fund will limit its acquisition of securities of investment companies and companies that would be investment companies under the 1940 Act but for the exclusion from the definition of investment company in Section 3(c)(1) or Section 3(c)(7) of the 1940 Act to an aggregate amount that does not exceed 10% of the Fund’s total assets." This policy aims to ensure that the fund maintains a balanced approach while allowing for strategic investments.

This update may impact various stakeholders, including investors and financial advisors who manage portfolios involving the FPA Short Duration Government ETF. The revised policy could provide opportunities for enhanced returns while maintaining a degree of risk management.

Looking ahead, the filing does not specify what actions will follow this policy update. However, it is clear that Investment Managers Series Trust III is positioning itself to adapt to the evolving investment landscape.