From the Editor

April 8, 2024

By Hillary Jackson

From the Editor...


April is Financial Literacy Month. It's an important topic, given the dismal statistics related to Americans' understanding of finances and financial markets, but what does it have to do with mutual fund directors? In our most recent Viewpoints, Linda Taylor Davis, an independent director of Morningstar Funds, makes the argument that there is a direct connection and that financial education should be a topic of discussion in fund boardrooms. This is an interesting and compelling article, so don't miss it. 


We've also recently written about closed-end funds and how boards that oversee them might think about dealing with activist investors. There has been an increase in activist activity in the past 18 to 24 months, and '40 Act lawyers told us there are ways that closed-end funds can work to avoid becoming a target and, if they do become a target, try to keep themselves out of a proxy fight and/or the courtroom. Independent directors overseeing CEFs should be aware of how the fund is managing NAV and whether they've heard from any investors with questions or concerns, these lawyers said. Proactive beats reactive, they maintain.


In boardroom news, a veteran director who sits on several ALPS-affiliated boards has stepped down from her role as chair of one of those boards but will still continue to serve as an independent director. Her replacement has been named and the transition of position happened on April 1. And in case you missed it, we also wrote about the recent decision to merge the TCW and MetWest fund boards into a unitary structure. Click below on any of the headlines to catch up. 


Also, don't miss our monthly PDF of stories that was published last week — it includes everything we've posted on our website in March. It's all there is there in one easy-to-access place.


Now, grab your glasses and go view the solar eclipse! If you're lucky enough to be in the path of the total eclipse, lucky you! 


For now,


Hillary Jackson, founding editor



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