Fund Board Views

Top of the Agenda - Governance

BlackRock board adds two independents

By Hillary Jackson

Two new independent directors joined the board overseeing BlackRock's non-index fixed-income funds and closed-end funds today. The additions bring the board up to 10 independents, though the larger size may be short lived as two—including a co-chairman of the board—will hit the mandatory retirement age this year and are expected ... >> CONTINUE READING <<<

Top of the Agenda - Governance

Lancellotta, former BlackRock exec join Nuveen Funds board

By Hillary Jackson

Amy Lancellotta, who led the Independent Directors Council for 13 years before retiring at the end of 2019, has joined the Nuveen Funds board along with Joanne Medero, who most recently was a managing director in BlackRock's Government Relations and Public Policy Group. With these two additions, the all-independent board ... >> CONTINUE READING <<<

Top of the Agenda - Governance

The Merger Fund, others added to Virtus Funds board's oversight remit

By Hillary Jackson

The Virtus Funds board is preparing to expand its oversight responsibilities to include assets that will be added when adviser Virtus Investment Partners acquires Westchester Capital Management, a deal that is expected to close in the second half of the year. Among the funds being acquired with Westchester Capital is ... >> CONTINUE READING <<<

Top of the Agenda - Compensation

MPI on fund board pay: Small complexes continue to play catchup

By Hillary Jackson

Independent mutual fund director compensation continues to grow each year, though the increases among board members varies widely depending on the size of the fund family they oversee, according to the latest figures from Management Practice Inc. Pay for directors sitting on the largest fund boards seems to have plateaued ... >> CONTINUE READING <<<

10 Things

10 Things...Boards should ask about LIBOR transition

By FBV Staff

The publication of the London Interbank Offering Rate will cease at the end of this year, which means financial market participants will need to transition all remaining LIBOR-based exposures to risk-free interest rates over the next several months. While most mutual funds do not have exposure to LIBOR, some do, ... >> CONTINUE READING <<<

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