From the Editor...
And...the holiday season has officially begun. We're hoping you all had a lovely Thanksgiving weekend, including a well deserved break and time with family and friends. Whatever you're celebrating over the coming weeks, we wish for those celebrations to be joyful as well. Before we know it, 2019 will be here and a whole new year laid out before us. Before we close the books on 2018, however, there are a few things going on.
The courts are especially busy right now, with Chill v. Calamos Advisors LLC in court in New York right now, and the Kennis v. Metro. West Asset Mgmt. LLC trial due to start in early December in Los Angeles. We're keeping an eye on both of these cases, as well as others that continue to make their way through the court system. The plaintiffs' bar has yet to taste victory with the many lawsuits alleging violations of section 36(b) of the Investment Company Act of 1940, but that can obviously change in a heartbeat.
In the meantime, mutual fund boards are preparing for the new year by filling open—or soon-to-be-vacated—seats around the table and ensuring they're operating as efficiently as possible. At State Street Global Advisors, that means consolidating oversight and governance by shaking up its fund boards as long-serving members begin to retire off and new directors are brought into the fold. And at AXA Equitable Life, the board is adding directors following a change in ownership at its parent company.
In our Added Perspective section, we post content that is slightly outside the realm of our normal coverage but which we think may be of interest to our readers. Recently, we posted 2020 Women on Boards' 2017 Gender Diversity Index key findings, which provide insight into female representation on U.S. corporate boards and how shareholders are reacting to the progress—or lack thereof—toward gender parity. It's an interesting read, and it's certainly applicable to the world of fund boards so definitely worth your time.
Hillary Jackson, founding editor