From the Editor...
Mutual fund directors talk all the time about the importance of chemistry in the boardroom, how it's essential to have a group of directors around the table who actively participate and work well together. Morningstar Funds has hired a new director, and Chair Theresa Hamacher maintains that he "gets" what the board is all about and fits right in with the small group that oversees Morningstar's offerings. That board may not be done hiring yet, but its original plan of expanding got somewhat sidetracked over the past year. Read the story for all the details.
In other news, Management Practice Inc. gave us a sneak peek at the results of its annual survey on fund CCO compensation. Pay was up slightly in 2021, for the whole group of survey participants and those who participated both in 2020 and 2021. MPI's Jay Keeshan said the continued uptick in compensation reflects fund CCOs' value to boards and the industry at large.
On a lighter note, our annual summer reading list is out. There are novels, historical reads, management books, and non-fiction tomes in the collection, as well as books written by independent fund directors. If you like to read, don't skip over this annual feature!
Our latest Viewpoints covers ESG investing in an atmosphere of SEC rulemaking and enforcement. Authors Amy Roy, Robert Skinner, and Brooke Cohen from Ropes & Gray provide insight and useful perspective on the topic in the context of today's regulatory climate.
By the way, we are looking for Viewpoints writers to contribute now and through the end of this year. These pieces are written for FBV and must be relevant to independent fund directors. The Viewpoints section of our website is not behind our paywall, so it's a great way to share your thoughts with colleagues, peers, clients, and others. Email me for more info!
Hillary Jackson, founding editor