Top of the Agenda - Governance

Fidelity to combine two of its fund boards
By Hillary Jackson
Fidelity Investments plans to combine the boards that oversee its actively managed sector-based Select Funds and its equity and high-income funds, a move designed to "add to the board's breadth and depth of expertise," according to the Boston fund firm. The resulting board will oversee 279 funds with some $1.1 ...  >> CONTINUE READING <<<

 

 

Two independents join iShares board
By Hillary Jackson
Two new independent directors have joined the iShares boardroom, both having served initially as advisory board members. The new additions bump the board up to eight independent and two interested directors overseeing 332 iShares exchange-traded funds.
 
A seat had opened at iShares in April 2016 when independent Chairman Robert Silver left ...  >> CONTINUE READING <<<

 

 

Deloitte: More boards reviewing price challenges, using dashboards
By Hillary Jackson
As part of their oversight of valuation practices, two-thirds of mutual fund boards are regularly reviewing information regarding price challenges, up considerably from 40% just five years ago, according to Deloitte's new Fair Valuation Pricing Survey, Fifteenth Edition. The practice indicates a focus on the part of directors on the ...  >> CONTINUE READING <<<

 

 

Sequoia Fund names new chair, adds independent
By Hillary Jackson
Sequoia Fund has named a new chairman and added an independent director to the boardroom, enlarging the group by one member. These latest changes to the board come at a time when the fund, which lost roughly half of its assets under management after an investment in Valeant Pharmaceuticals International went ...  >> CONTINUE READING <<<

 

 

Virtus Funds board takes on two RidgeWorth directors

By Hillary Jackson
The Virtus Funds board has added two RidgeWorth Funds directors as it takes responsibility for 26 new funds and five sub-adviser relationships following Virtus Investment Partners' acquisition of RidgeWorth Investments. Thirteen directors now populate the Virtus Funds boardroom, with independent Chairman Philip McLoughlin remaining at the helm.
 
The deal, which increased ...  >> CONTINUE READING <<<

 

 

Does your firm have a game plan for liquidity rule compliance?
By Hillary Jackson
As mutual fund directors return to the boardroom for third-quarter meetings, getting up to speed on the adviser's preparations for compliance with the Securities and Exchange Commission's liquidity risk management rule is sure to be on the agenda. Rule-related discussions restarted after the summer break are likely to include an update ...  >> CONTINUE READING <<<

 

 


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Top of the Agenda - Compensation
Fund director pay up again in '16, IDC data shows

Total compensation for independent mutual fund directors increased again in 2016, continuing a years-long trend tracked by the Independent Directors Council in its annual member study. ...