Top of the Agenda - Legal

Vanguard, fund board hit with class-action suit over tax bills
By Hillary Jackson
The independent directors of Vanguard Funds were named last week as defendants in a class-action lawsuit brought by a group of retail investors. The plaintiffs' claims center around high tax bills they received in 2021 that stemmed from unusually large capital gains distributions from target-date funds held in taxable accounts. ...  >> CONTINUE READING <<<

 

 

Plaintiffs drop American Century 'closet indexing' suit
By Hillary Jackson
The plaintiffs in a class-action suit filed in November against American Century Investment Services, affiliated entities, fund directors, and some officers have voluntarily dismissed all claims. The suit accused defendants of so-called closet indexing, with the plaintiffs maintaining they paid fees for active management they did not get and also ...  >> CONTINUE READING <<<

 

 

'Closet indexing' suit targets American Century, fund board
By Hillary Jackson
A class-action suit filed earlier this month that alleges so-called closet indexing targets American Century Investment Services and several affiliated entities, as well as the directors and some officers of the mutual fund at the center of the case. Plaintiffs maintain they paid fees for active management they did not ...  >> CONTINUE READING <<<

 

 


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Top of the Agenda - Governance
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 ...