EX-99.B(I)(1) 29 a16-22303_1ex99dbi1.htm EX-99.B(I)(1)

Exhibit 99.B(i)(1)

 

Drinker Biddle & Reath LLP

One Logan Square

Suite 2000

Philadelphia, PA  19103-6996

Telephone:  (215) 988-2700

 

December 27, 2016

 

The RBB Fund, Inc.

Bellevue Park Corporate Center

103 Bellevue Parkway

Wilmington, Delaware  19809

 

Re:

Shares Registered by Post-Effective Amendment No. 207 to

 

Registration Statement on Form N-1A (File No. 33-20827)

 

Ladies and Gentlemen:

 

We have acted as counsel to The RBB Fund, Inc. (the “Company”) in connection with the preparation and filing with the Securities and Exchange Commission of Post-Effective Amendment No. 207 (the “Amendment”) to the Company’s Registration Statement on Form N-1A under the Securities Act of 1933, as amended.  The Board of Directors of the Company has authorized the issuance and sale by the Company of the following classes and numbers of shares of common stock, $0.001 par value per share (collectively, the “Shares”), with respect to the Company’s Abbey Capital Futures Strategy, Altair Smaller Companies, Bogle Investment Management Small Cap Growth, Boston Partners All-Cap Value, Boston Partners Emerging Markets Long/Short, Boston Partners Global Equity, Boston Partners Global Long/Short, Boston Partners Long/Short Equity, Boston Partners Long/Short Research, Boston Partners Small Cap Value II, WPG Partners Small/Micro Cap Value,  Campbell Dynamic Trend, Campbell Multi-Asset Carry, Free Market Fixed Income, Free Market International Equity, Free Market U.S. Equity, Matson Money Fixed Income VI, Matson Money International Equity VI, Matson Money U.S. Equity VI,   Schneider Small Cap Value,  Scotia Dynamic U.S. Growth, Summit Global Investments Small Cap Low Volatility, and Summit Global Investments U.S. Low Volatility Equity Portfolios:

 

PORTFOLIO

 

CLASS

 

AUTHORIZED SHARES

Abbey Capital Futures Strategy

 

RRRRR
SSSSS
TTTTT

 

100 million
100 million
100 million

Altair Smaller Companies

 

UUUUU

 

100 million

Bogle Investment Management Small Cap Growth

 

NNN
OOO

 

100 million
100 million

 



 

PORTFOLIO

 

CLASS

 

AUTHORIZED SHARES

Boston Partners All-Cap Value

 

VV
WW

 

100 million
100 million

Boston Partners Emerging Markets Long/Short

 

WWWWW

 

100 million

Boston Partners Global Equity

 

CCCCC
DDDDD

 

100 million
100 million

Boston Partners Global Long/Short

 

JJJJJ
KKKKK

 

100 million
100 million

Boston Partners Long/Short Equity

 

III
JJJ

 

100 million
100 million

Boston Partners Long/Short Research

 

AAAAA
BBBBB

 

100 million
750 million

Boston Partners Small Cap Value II

 

DDD
EEE

 

100 million
100 million

WPG Partners Small/Micro Cap Value

 

UUU

 

50 million

Campbell Dynamic Trend

 

VVVVV

 

100 million

Campbell Multi-Asset Carry

 

YYYYY

 

100 million

Free Market Fixed Income

 

DDDD

 

300 million

Free Market International Equity

 

CCCC

 

300 million

Free Market U.S. Equity

 

BBBB

 

300 million

Matson Money Fixed Income VI

 

NNNNN

 

100 million

Matson Money International Equity VI

 

MMMMM

 

100 million

Matson Money U.S. Equity VI

 

LLLLL

 

100 million

Schneider Small Cap Value

 

YY

 

100 million

 

2



 

PORTFOLIO

 

CLASS

 

AUTHORIZED SHARES

Scotia Dynamic U.S. Growth

 

OOOOO
PPPPP
QQQQQ

 

100 million
100 million
100 million

Summit Global Investments Small Cap Low Volatility

 

AAAAAA
BBBBBB
CCCCCC

 

100 million
100 million
100 million

Summit Global Investments U.S. Low Volatility Equity

 

GGGGG
HHHHH
IIIII
ZZZZZ

 

100 million
100 million
100 million
100 million

 

The Amendment seeks to register an indefinite number of the Shares.

 

We have reviewed the Company’s Articles of Incorporation, ByLaws, resolutions of its Board of Directors, and such other legal and factual matters as we have deemed appropriate.  This opinion is based exclusively on the Maryland General Corporation Law and the federal law of the United States of America.

 

Based upon and subject to the foregoing, it is our opinion that the Shares, when issued for payment as described in the Company’s Prospectuses offering the Shares and in accordance with the Company’s Articles of Incorporation for not less than $0.001 per share, will be legally issued, fully paid and non-assessable by the Company.

 

We consent to the filing of this opinion as an exhibit to the Amendment to the Company’s Registration Statement.

 

 

Very truly yours,

 

 

 

 

 

/s/ Drinker Biddle & Reath LLP

 

Drinker Biddle & Reath LLP

 

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