Top of the Agenda - Governance

Study highlights trends in hiring, retiring practices

By Hillary Jackson

Mutual fund boards adapted quickly to the virtual environment thrust upon them last year when the COVID-19 pandemic grounded directors and forced them to work from home, but among the tasks that was expected to be most challenging during this time period was hiring. According to exclusive new data from ... >> CONTINUE READING <<<

JPMorgan Funds, ETFs boards to combine

By Hillary Jackson

JPMorgan Funds is planning to consolidate the oversight and governance of its 125 open-end mutual funds and 44 exchange-traded funds by creating a single unified board to oversee all of the funds. Shareholders will vote at the end of next month on a slate of 14 independent and two interested ... >> CONTINUE READING <<<

Boards reconsider in-person meetings as COVID surges

By Hillary Jackson

Independent mutual fund directors who were looking forward to seeing their peers in person this fall after 18 or more months apart are likely going to have to wait a bit longer, as boards postpone plans to hold in-person third- and fourth-quarter meetings. The United States is experiencing a surge ... >> CONTINUE READING <<<

Shareholders to consider Saba CEF directors in September

By Hillary Jackson

Shareholders in the $419.5 million Saba Capital Income & Opportunities Fund are being asked to vote in a slate of four independent and two interested directors, just a few months after Saba Capital Management took over from Voya Investment Management as manager of the closed-end fund. The vote will take place ... >> CONTINUE READING <<<

Directors: Focus on prospectus for ESG funds

By Mike Schnitzel

Environmental, social, and governance investing has been a huge topic of discussion in the mutual fund industry over the past several years, including in fund boardrooms. Directors have an oversight responsibility to make sure that funds labeled ESG are really ESG funds, and that management is not engaging in so-called ... >> CONTINUE READING <<<

ESG adviser Parnassus to double board size following AMG deal

By Hillary Jackson

The Parnassus Funds board is planning to double the number of independent directors in its boardroom, provided shareholders approve three nominees at the end of next month. The changes in the Parnassus Funds boardroom were prompted by Affiliated Managers Group's acquisition of a majority stake in adviser Parnassus Investments, the ... >> CONTINUE READING <<<