From the Editor...
Earlier this month, plaintiffs who had accused American Century of so-called closet indexing in a class-action suit voluntarily abandoned the case, which had been filed in November. Current and former fund board members were named as defendants, along with the asset manager, several affiliated entities, and some officers. Why? We explain that in the articles we've published on the case, so be sure to take a look at them. And although such a class-action suit is considered to be unusual, the industry remains watchful toward the plaintiffs' bar to see what comes next. We're watching too.
We're also continuing to follow what's going on in mutual fund boardrooms and across the industry, reporting just last week on the completion of BMO Funds' exit from the U.S. fund business, what's become of the firm's funds, and the fate of those funds' directors. Context is important, and we strive to provide plenty of it.
Meanwhile, our 10in10 series continues, with the latest two articles focusing on variable products and ETFs. This 10-part series on the most significant regulatory developments in the 2010-to-2020 decade is thorough and informative. Don't miss it!
Finally, our latest Viewpoints is fascinating. Jeremy Senderowicz and John Sanders from Vedder Price take a look at the rise and popularity of cryptocurrency and offer guidance on what what fund directors should be asking and discussing—whether the funds they oversee are invested (yet) or not.
If you missed anything we published in December and January, be sure to download our latest monthly PDF. It's a great reference tool.
Hillary Jackson, founding editor