In the Margins
In Morningstar's Rekenthaler Report column, John Rekenthaler maintains that mutual fund directors are held to a lower standard of fiduciary duty than 401(k) plan sponsors are. Rekenthaler, in analyzing a recent excessive fees case, maintain that directors do not act solely on behalf of fund shareholders, but also are beholden to the advisers of the funds they oversee. Read the original story from Morningstar.
Most Read
As the end of the year approaches, there are several issues that are likely to come up for discussion between chief compliance officers and mutual fund ...
Independent mutual fund directors are required to assess the reasonableness of the profits the management company earns from its advisory contract. It’s a challenging task, since ...
Blockchain has been likened to the “second generation” of the internet. The technology, including digital assets such as coins, tokens and related derivatives, has the potential ...
Five of the seven independent directors overseeing Alliance Bernstein's 94 mutual funds are 70 years old or older, and Chairman Marshall Turner is just fine with ...