Top of the Agenda - Governance

GSAM board to add two new independents
By Hillary Jackson
A board overseeing two Goldman Sachs Asset Management trusts is asking shareholders to approve two new independent directors, boosting the number around the table up to eight. The board has been chaired by Jessica Palmer for nearly two years and is the oldest of GSAM's five fund boards. 
 
The board, which ...  >> CONTINUE READING <<<

 

 

A Seat at the Table

IDC's Lancellotta on growth, innovation, what's next
By Hillary Jackson
When Amy Lancellotta started working at the Investment Company Institute in the late 1980s, there was less than $1 trillion in assets in U.S. regulated open-end funds; today, just three decades later, there's more than $21 trillion. That phenomenal growth—supported by a surge in retirement assets and exchange-traded funds, as ...  >> CONTINUE READING <<<

 

 

Viewpoints

Board oversight of non-fully transparent active ETFs
By Mark D. Perlow, Stephanie A. Capistron, and Margaret E. Wilson, Dechert LLP
Earlier this year, the Securities and Exchange Commission issued the first exemptive order permitting the operation of actively managed exchange-traded funds that do not disclose their full holdings daily. This order and other pending applications have garnered a significant amount of attention, including from active managers that previously were deterred ...  >> CONTINUE READING <<<

 

 

Top of the Agenda - Governance

Legg Mason to consolidate WAMCO fund boards
By Hillary Jackson
Legg Mason is planning to consolidate two of the six boards that oversee its roughly 150 U.S. mutual funds and reduce the number of independent directors in its boardrooms. A proposal to be voted on by shareholders next month involves the two boards that oversee funds advised by Legg Mason ...  >> CONTINUE READING <<<

 

 

A Seat at the Table

Columbia Funds Chair Boudreau prepares to retire
By Hillary Jackson
Edward Boudreau will retire from the Columbia Funds board at the end of this year after serving for two years as independent chairman and 14 years as an independent director. As he looks back on his years in the boardroom and decades in the financial services industry, Boudreau said he's ...  >> CONTINUE READING <<<

 

 


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Top of the Agenda - Industry Groups
MFDF's Susan Wyderko to retire in 2020

Susan Wyderko will retire from her position as president and CEO of Mutual Fund Directors Forum in the fall of 2020. When she steps down next ...