Top of the Agenda - Governance

Saba gains seats in ASA closed-end fund boardroom
By Hillary Jackson
Saba Capital Management was successful earlier this week in getting two of its nominees elected to the board of the ASA Gold and Precious Metals Ltd. closed-end fund. This comes three months after Saba—the largest common shareholder in the ASA fund with a nearly 17% stake—filed a lawsuit claiming the ...  >> CONTINUE READING <<<

 

 

Top of the Agenda - Succession

Gabelli CEF board to add NY politician, media personality
By Hillary Jackson
The Gabelli Dividend & Income Trust board has nominated a well-known New York politician, radio producer, and TV host to join its boardroom, pending a shareholder vote scheduled for May 13. He will join the more than two dozen independent directors who oversee the 22 open-end, 13 closed-end, three money ...  >> CONTINUE READING <<<

 

 

Added Perspective

Claims Trends: A Review of Claims Activity in the Mutual Fund Industry (January 2023-March 2024)
By ICI Mutual
ICI Mutual’s annual Claims Trends reports on significant civil lawsuits, regulatory enforcement proceedings, and operational errors involving fund advisers and their affiliates, registered investment companies, and fund directors and officers. The publication is designed to assist ICI Mutual’s insureds to better assess and manage the risks associated with such matters, ...  >> CONTINUE READING <<<

 

 

10 Things

10 Things...to know when overseeing ETFs
By FBV Staff
The exchanged-traded funds industry has seen tremendous growth since inception three decades ago, with global assets under management exceeding $11.6 trillion globally in 2023, according to ETFGI data. As growth in the market continues, the number of independent fund directors overseeing ETFs also increases—especially as traditional mutual fund advisers get ...  >> CONTINUE READING <<<

 

 

Viewpoints

Fund Boards: AI oversight of third-party vendors is key
By Joyce Li, CFA
As artificial intelligence rapidly transforms the financial services landscape, mutual fund boards face a growing imperative to ensure that third-party service providers' AI practices align with the funds' standards and investors' best interests. With vendors increasingly leveraging AI for critical functions such as data management, investment technology, and customer service, ...  >> CONTINUE READING <<<

 

 


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