Top of the Agenda - Governance

Virtus Funds board takes on two RidgeWorth directors

By Hillary Jackson
The Virtus Funds board has added two RidgeWorth Funds directors as it takes responsibility for 26 new funds and five sub-adviser relationships following Virtus Investment Partners' acquisition of RidgeWorth Investments. Thirteen directors now populate the Virtus Funds boardroom, with independent Chairman Philip McLoughlin remaining at the helm.
 
The deal, which increased ...  >> CONTINUE READING <<<

 

 

Top of the Agenda - 10 Things

10 Things...Boards are focused on this fall
By FBV staff
As summer begins to draw to a close, the end of the year comes sharper into focus and mutual fund boards are prioritizing what needs to be discussed at their two remaining quarterly meetings of 2017. Many third-quarter meeting agendas are likely to be set by now (or close to ...  >> CONTINUE READING <<<

 

 

Viewpoints

Conflicts of interest: What’s the fund board’s responsibility?
By Rose DiMartino, Willkie Farr & Gallagher LLP
It might sound scary to independent directors of mutual funds, but the ordinary operation of funds is rife with conflicts of interest between the funds (and their shareholders) on the one hand and the funds’ investment adviser on the other. You might say that a conflict is inherent in the ...  >> CONTINUE READING <<<

 

 

Top of the Agenda - Legal

First Eagle sub-adviser fee comparison 36(b) case dismissed
By Hillary Jackson
An excessive fees case filed against First Eagle Investment Management more than three years ago was dismissed this week with prejudice, with no settlement involved. Kennis Trust v. First Eagle Investment Management LLC is the first of its kind among the current round of cases alleging violations of Section 36(b) of the ...  >> CONTINUE READING <<<

 

 

Top of the Agenda - Governance

Does your firm have a game plan for liquidity rule compliance?
By Hillary Jackson
As mutual fund directors return to the boardroom for third-quarter meetings, getting up to speed on the adviser's preparations for compliance with the Securities and Exchange Commission's liquidity risk management rule is sure to be on the agenda. Rule-related discussions restarted after the summer break are likely to include an update ...  >> CONTINUE READING <<<

 

 


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