Top of the Agenda - Governance

TIAA, Nuveen fund boards propose unitary structure

By Hillary Jackson

The boards overseeing TIAA's 88 and Nuveen Investments' 135 mutual funds plan to merge into a singe entity, nine years after TIAA acquired Nuveen for $6.25 billion. All but two retiring Nuveen directors will remain in place, but only four of the independent directors currently overseeing TIAA's funds will join ... >> CONTINUE READING <<<

New IDC data: Diversity takes hold in fund boardrooms

By Hillary Jackson

Mutual fund boardrooms are more diverse than ever, with the percentage of women and individuals representing a racial or ethnic minority group increasing annually—and at a rapid pace in recent years. According to data from the Independent Directors Council, in the 10-year period from 2012 to 2022, the percentage of ... >> CONTINUE READING <<<

Consolidation at BNY Mellon Funds as two board groups plan merger

By Hillary Jackson

Two of the board groups overseeing BNY Mellon's open-end mutual funds are planning to merge in mid-October, a move that will consolidate governance and oversight of the fund complex but not reduce the overall number of independent directors. In fact, the plan includes electing an advisory board member to the ... >> CONTINUE READING <<<

A little Dr. Seuss, a lot of info in Baris's 'Mutual Fund Minute' podcast

By Hillary Jackson

Jay Baris, a partner in the Investment Funds group at Sidley Austin, has gotten into podcasting. The '40 Act lawyer is not just a podcast enthusiast, he's a producer, and sometimes he even channels children's author—and rhymer extraordinaire—Dr. Seuss. His mission? Baris says he aims to "inform and entertain" while ... >> CONTINUE READING <<<

Fund group plans series trust move, from PMP to Northern Lights

By Hillary Jackson

Four mutual funds managed by Dallas-based Hodges Capital Management have asked shareholders to approve a move from series trust Professionally Managed Portfolios to Northern Lights Fund Trust II. The reorganization is expected to be effective on Sept. 22, according to a recent filing.

Changing administrators in a series trust context is ... >> CONTINUE READING <<<

Amplify ETFs board's remit to double with acquisition

By Hillary Jackson

Amplify ETFs is expected to close a deal to acquire ETF Managers Group's exchange-traded funds lineup later this year, a move that will double Amplify ETFs' offerings and boost assets under management to some $8 billion. The expanded fund complex will be overseen by Amplify's existing board and will include ... >> CONTINUE READING <<<