From the Editor...
One of the ways we add value to the mutual fund governance conversation is by speaking directly with independent fund board chairs and other senior professionals closely associated with fund boards. With these individuals, we discuss recent challenges their boards have faced and how both unusual and routine issues have been—or are being—dealt with. We hope this insight is helpful to readers struggling with similar situations—and those who've similarly dealt with a particular issue (reinforcement is powerful when it comes to peace of mind). Recently, we've spoken with the chair of Mairs & Power Funds about her board's approach to recruitment and the chair of the ALPS Variable Investment Trust about a slew of governance issues. This one-on-one feature is under the A Seat at the Table tab on the website; check it out—you'll find interviews with Highland Funds, RBC Funds, Matthews Asia Funds, and more!
In the regulatory realm, we aim to bottom line what the discussions in Washington, D.C., mean for fund boards. Sometimes those discussions don't directly touch the board (in which case, we leave it to the more general fund publications to cover), and sometimes they change the way the board works. The liquidity risk management rule is one measure that will bring change in the nation's boardrooms, but recent moves by the SEC have confused things a bit. To help fund directors ensure they are having the right discussions with counsel and with management, we've put together a list of 10 Things that boards can consider asking and/or introducing to the conversation. All of our 10 Things lists are meant to be helpful for boards, and we hope you find them to be hitting their mark. If you've got an idea you'd like to see turned into a 10 Things list, please let me know.
Finally, sometimes we come across content that we wouldn't necessarily cover but which we think could be beneficial to readers because its message is pertinent to fund directors. This section, Added Perspective, contains previously published content and is worth checking out. Our latest addition is a piece on bringing the #metoo movement to the boardroom, and though the piece is centered on corporate boards, there are parallels with fund boards and it's worth a read.
Hillary Jackson, founding editor