Viewpoints

Articles written by industry professionals for Fund Board Views, may be opinion, commentary, educational/instructional.

NAV resiliency: What should fund boards be asking?

By Kirk Littleton, FundGuard

Much has been written about cybersecurity and the measures that mutual fund boards should take to ensure that their fund shareholders’ information and assets are protected in the event of a system outage or cyberattack. Overall, most funds and their service providers have implemented adequate programs to address traditional system ... >> CONTINUE READING <<<

Completion Funds: A mutual fund as missing piece to SMA portfolio

By Bob Kennedy, FUSE Research Network

The growth in separately managed account portfolios has been dramatic over the last several years. SMA technology provider DeskTrading estimates that SMA assets grew by 85% between 2017 and 2020[1] and are projected to double from current levels by 2023.[2] But as technology permits SMA portfolios to be offered to ... >> CONTINUE READING <<<

Op-Ed: A refocused lens for the role of the fund board

By Darrell N. Braman

The purpose of this writing is to propose a refocused lens through which to view the critical work of the independent directors to a mutual fund. While many of my views reflect my role as a fund board steward for over a decade of service, much of what follows is ... >> CONTINUE READING <<<

The fund consolidation trend: What your fund should be thinking about

By Jeff Haneline, Cohen & Company

According to Morningstar, over 1,000 mutual funds went through business combinations over the past three years. This was a consistent theme in 2020 and has continued into 2021, showing no signs of significant slowing even with the ongoing pandemic. Conversions from one structure to another have also been a common ... >> CONTINUE READING <<<

Asset management M&A: Does your board need special transaction counsel?

By Christopher Healey and Debra Sutter, Simpson Thacher & Bartlett LLP

Potential conflicts of interest for independent directors likely are top of mind when a board is presented with a merger or acquisition transaction involving a fund's investment adviser; if such a conflict is discovered, an independent director can be recused from any deliberations related to the transaction. A less obvious, ... >> CONTINUE READING <<<

Practical ways to get more out of board self-assessments

By Joanne A. Skerrett, Mutual Fund Directors Forum

Directors are constantly told that they should not approach their board's annual self-assessment as just another "check-the-box" exercise, but instead appreciate the opportunity to ask difficult, thought-provoking questions. Still, judging from recent reports and survey results in both the corporate director sphere and among fund directors, it would appear that ... >> CONTINUE READING <<<