Top of the Agenda - Governance

Former PIMCO Funds director Popejoy has died

William Popejoy, who served on the PIMCO Funds board as an independent director for more than 20 years, died Saturday from complications related to Parkinson's disease, according to an article published Monday in The Orange County Register. He was 81.

Popejoy, who lived in Newport Beach, Calif., stepped off the PIMCO ... >> CONTINUE READING <<<

New ETF rule on boards' agendas this fall

By Hillary Jackson

Boards overseeing exchange-traded funds are likely to allocate time this fall to reviewing a new exchange-traded funds rule adopted last week by the Securities and Exchange Commission. Rule 6c-11, designed to streamline the process of bringing ETFs to market, is being viewed as a leveling of the playing field among ... >> CONTINUE READING <<<

Deloitte: Funds slow to embrace tech in valuation, cite challenges

By Hillary Jackson

Investment managers have been slow to fully embrace the use of technologies in their valuation process, even as they continue to explore doing so, according to new data from Deloitte. Among the "headwinds" faced by these managers are development and implementation costs, lack of technological expertise, and the potential to ... >> CONTINUE READING <<<

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 <<<

ICI Mutual examines fund industry litigation in new report

By Hillary Jackson

Nearly 400 shareholder lawsuits have been filed so far this century against mutual fund groups, with 80% of those targeting the 100 largest fund groups, according to a new report from ICI Mutual. Such securities-related litigation initiated by the plaintiffs' bar, referred to in the report at "entrepreneurial litigation," is ... >> CONTINUE READING <<<

CCO, culture are keys to proper compliance

By Mike Schnitzel

Independent mutual fund directors and consultants say the keys to ensuring fund firms are employing proper compliance procedures is to make sure the chief compliance officer is rightly valued and an integral part of the firm's everyday workings and culture. At an industry function several months ago, Peter Driscoll, director ... >> CONTINUE READING <<<