Top of the Agenda - Governance

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 <<<

Q&A: Converting open-end funds to ETFs

Guinness Atkinson Funds made history last year when it completed the industry’s first conversions from open-end mutual fund to exchange-traded fund. Since then, a number of fund complexes have followed suit, and the fund-to-ETF conversion process is starting to seem not so novel already. That said, the process is complex, ... >> CONTINUE READING <<<

Proxy pros: Directors should prep for ‘pass-through’ voting

By Mike Schnitzel

One of the country’s largest institutional asset managers has said it is considering allowing fund shareholders a direct say in voting their proxies. BlackRock recently announced it had begun exploring how to allow for “pass-through votes,” and State Street Global Advisors and Vanguard Group said they were considering following suit. ... >> CONTINUE READING <<<