Top of the Agenda - Governance

RBB Fund founder, innovator Dick Carnall dies

By Hillary Jackson

RBB Fund Founder J. Richard "Dick" Carnall died last week, on Jan. 26, at the age of 84. Carnall served the financial services industry for decades even before he founded the first organized multiple series trust in 1988. He was an interested and then an independent director on the RBB ... >> CONTINUE READING <<<

Putnam ETFs, Funds boards to combine

By Hillary Jackson

The board overseeing Putnam Investments' exchange-traded funds is expected to be merged into the larger, more established Putnam Funds board early in the new year, provided shareholders approve the move. The stand-alone Putnam ETFs board was formed less than two years ago as the Boston firm was preparing to launch ... >> CONTINUE READING <<<

Deloitte: Rule 2a-5 compliance dominates fund groups', boards' time

Mutual fund groups devoted a notable amount of time and effort to coming into compliance over the past 18 months with the new rule on fair valuation practices, according to new data from Deloitte. During a challenging time that included market volatility, workplace disruption, and major world events ahead of ... >> CONTINUE READING <<<

Hiring trends favor female, minority directors, study shows

By Hillary Jackson

The need to increase diversity and inclusion in mutual fund boardrooms—and throughout the industry—has dominated discussions in boardrooms, at industry events, and among industry association personnel in recent years. And it looks like the focus on this issue is beginning to pay off, with new data showing impressive hiring trends ... >> CONTINUE READING <<<

Morgan Stanley Funds board to oversee new ETFs

By Hillary Jackson

Morgan Stanley is planning to enter the exchange-traded funds market for the first time with four ESG-focused index ETFs. The adviser's existing funds board will oversee the Calvert International Responsible Index ETF, Calvert U.S. Large-Cap Core Responsible Index ETF, Calvert U.S. Large-Cap Diversity, Equity and Inclusion Index ETF, and Calvert ... >> CONTINUE READING <<<

Edward Jones funds boards merge, name first-ever independent chair

By Hillary Jackson

The governance structure in place for mutual funds offered by Edward D. Jones & Co. has been revamped and streamlined, resulting in new independent leadership and a unified board. The BridgeBuilder Trust board has merged with the board overseeing the Edward Jones Money Market Fund, two new independent directors have ... >> CONTINUE READING <<<