From the Editor...
The upcoming election—just over a week away now—seems to be a topic of discussion in every corner of life, both personal and professional, and certainly amongst independent mutual fund directors in virtual boardrooms across the country. We were curious just what board members are concerned about, anticipating, and trying to prepare for depending which candidate wins the presidency—and in some cases, regardless of who wins. Our latest 10 Things... list provides a look inside those conversations, though I'm sure there will be new conversations starting to take shape next week.
As we move beyond the election and toward the end of the year, the industry is preparing to say farewell to long-serving members of the community. We sat down with Oakmark Funds' long-serving chairman, Allan Reich, earlier this month to talk through what his final year has been like (busy!) and what he's observed over his decades of service. It's an insightful read, so don't miss it.
We also brought readers news of a new president and CEO at Investment Company Institute, which will say goodbye to Paul Schott Stevens at the end of the year. There's also a new independent chairman at Morgan Stanley Funds, which had been planning for a change in leadership but moved up the timeline due to long-serving Chair Michael Nugent's health. Sadly, Nugent passed away in August.
We'll continue to keep you posted on changes in boardrooms and around the industry as 2020 nears it's end.
Our latest Viewpoints is an op-ed from Meyrick Payne and Frank Tarantino, in which they discuss whether mutual funds boards need their own staffs. It's an intriguing concept, and there's some good advice in there from a couple of industry veterans. We also recently ran a Viewpoints from BBD's John Braun on proposed Rule 2a-5 and how it parallels audit and accounting rules and regulations. That's also one not to miss.
Stay informed with FBV, and don't forget to VOTE!
Hillary Jackson, founding editor