Top of the Agenda - Governance

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 <<<

Fund firm margins up in 2021, MPI data shows

By Hillary Jackson

Operating margins among large, publicly traded mutual fund firms were up in 2021, tracking—albeit at a slower pace—the growth in assets under management in recent years, according to new data from Management Practice Inc. Pre-tax operating margins were at a median level of 35% last year, compared with 30% in ... >> CONTINUE READING <<<

Russia-Ukraine war is discussion topic in fund boardrooms

By Hillary Jackson

As mutual fund complexes with exposure to Russian securities assess how the invasion of Ukraine and the resulting sanctions against Russia might impact individual funds, the boards overseeing those funds are being encouraged to keep current on the situation as well. Advisers and fund boards are closely monitoring liquidity and ... >> CONTINUE READING <<<

In their own words: Fund directors on diversity in the boardroom

Mutual fund boards have made significant progress in diversifying their ranks in recent years, changing recruitment strategies to ensure inclusion of different types of candidates and being mindful of the need to add—and the benefits of adding—new and different voices and perspectives to the boardroom. That said, there remains plenty ... >> CONTINUE READING <<<