10 Things

10 Things...Boards should ask about tailored shareholder reports
By FBV Staff
The Securities and Exchange Commission adopted a new rule last October that requires mutual and exchange-traded funds to produce and distribute "concise and visually engaging shareholder reports" and include transparent and balanced information on fees and expenses in investment company advertisements. It also requires funds to mail the shorter, modernized ...  >> CONTINUE READING <<<

 

 

Top of the Agenda - Succession

New interested chair takes over Principal Funds
By Hillary Jackson
The Principal Funds board has named a new interested chairman to take over from Timothy Dunbar, who has stepped off the board after retiring in 2021 from his role as president of global asset management at adviser Principal Asset Management. The new leadership is the latest in a series of ...  >> CONTINUE READING <<<

 

 

Top of the Agenda - Legal

Fund lawyers say Pinnacle case an outlier
By Hillary Jackson
When the Securities and Exchange Commission announced earlier this month it was charging a mutual fund adviser, some of its officers, and two independent fund directors with rule 22e-4 violations, it's safe to say market participants were at least a little bit concerned. But in the days since the details ...  >> CONTINUE READING <<<

 

 

Top of the Agenda - Compensation

MPI survey: Pay up in 2022, gender diversity improving
By Hillary Jackson
Independent mutual fund directors, on average, took home more pay in 2022 than they did the year prior, according to new figures from Management Practice Inc. After years of pared-back or non-existent raises during the COVID-19 pandemic, last year's 6.4% increase may reflect efforts to catch up and realign compensation ...  >> CONTINUE READING <<<

 

 

Viewpoints

Oversight of fees, economies of scale in a world of declining AUM
By Sara Yerkey, Management Practice Inc.
As one of the Gartenberg tenants, mutual fund directors are charged with assessing how the adviser shares economies of scale with fund investors. In recent years, a long run of market performance likely boosted firms’ and funds’ assets under management (depending, of course, on the strategies in which the funds ...  >> CONTINUE READING <<<

 

 


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Top of the Agenda - Legal
 Fund lawyers say Pinnacle case an outlier

When the Securities and Exchange Commission announced earlier this month it was charging a mutual fund adviser, some of its officers, and two independent fund directors ...