Top of the Agenda - Compensation

IDC survey: Compensation, diversity up in fund boardrooms
By Hillary Jackson
Independent mutual fund directors took home more money in 2018, and the boards on which they sit continued to become more diverse, according to new data published by the Independent Directors Council. Both developments support a years-long trend in fund governance, with board members' compensation reflecting an ever more complex ...  >> CONTINUE READING <<<

 

 

Top of the Agenda - Legal

Plaintiff loses appeal in Sequoia Fund suit
By Hillary Jackson
The U.S. Court of Appeals for the Second Circuit has affirmed a lower court's decision to dismiss a breach of contract case against Sequoia Fund, one of several lawsuits related to the fund's investment in Valeant Pharmaceuticals. Edwards v. Sequoia Fund claimed the fund violated its industry concentration policy when ...  >> CONTINUE READING <<<

 

 

Top of the Agenda - Governance

Fund industry 'pioneer' Dorothy Berry dies
By Hillary Jackson
Long-serving independent director Dorothy Berry has died at 75. She was independent chair of Professionally Managed Portfolios and an independent director of PNC Funds who served the mutual fund industry more widely during her career and through years of service to the Investment Company Institute and Independent Directors Council. "Dorothy was ...  >> CONTINUE READING <<<

 

 

10 Things

10 Things...to remember when overseeing sub-advisers
By FBV Staff
While sub-advisory relationships are treated no differently under the Investment Company Act of 1940 than the relationship between a mutual fund and its primary adviser, those sub-advisory relationships fall under the oversight of the fund's board and can present issues and challenges the directors may not have considered otherwise. What ...  >> CONTINUE READING <<<

 

 

Top of the Agenda - Industry Groups

ICI names Lancellotta's successor at IDC
By FBV Staff
The Investment Company Institute has named a new managing director of the Independent Directors Council. Thomas Kim's most recent experience is in the real estate sector, having worked for the Mortgage Bankers Association for the past eight years and for Freddie Mac for six years before that. He will join ...  >> CONTINUE READING <<<

 

 


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Top of the Agenda - Governance
Fund industry 'pioneer' Dorothy Berry dies

Long-serving independent director Dorothy Berry has died at 75. She was independent chair of Professionally Managed Portfolios and an independent director of PNC Funds who served ...
Top of the Agenda - Succession
Donohue joins two BNY Mellon Funds board groups

Andrew "Buddy" Donohue has joined two of the five BNY Mellon (formerly Dreyfus) mutual fund board groups led by long-serving independent Chairman Joseph DiMartino. Donohue resigned ...