From the Editor...
The Capitol Series Trust board made the bold move recently to double its size, bringing on three new independent directors to oversee the six advisers who offer funds through the series trust. The Ultimus Fund Solutions-sponsored trust grew the board to accommodate expected growth in assets and its stable of advisers. Dina Tantra, CEO and president of the trust, spoke with us about how the three new directors were selected and what's in store going forward.
In Baltimore, Md., the board of T. Rowe Price Group's Price Funds also has been busy. The board elected its first-ever independent chairman at a shareholder meeting in July. Effective immediately, Robert Gerrard has taken over the helm of the Price Funds board, after serving as an independent director for the past six years. He replaced Edward Bernard, who stepped down at the July 25 meeting after serving as the board's interested chair for the past 12 years. This change is the latest in a number of personnel shifts in the past couple years, as directors have retired off the Price Funds board and one long-serving director died nearly a year ago.
Please be sure to check out our latest 10 Things feature and Viewpoints. For 10 Things, we compiled a list of considerations for boards that are dealing with a merger or acquisition at the adviser level. And we're lucky this month to have a Viewpoints contributed by Jon Jacobs at ICE Data Services. In his piece, Jacobs addresses issues, topics and questions fund boards can broach with the pricing vendors that service their funds.
One more full month left of summer. Make the most of it (and keep reading FBV)!
Hillary Jackson, founding editor