From the Editor...
Today marks the first day of our summer publishing break, where Dan and I take a much-needed pause from work to relax and refresh before tackling the last few months of the year. We hope that you too have been able to unplug and take a breather this summer, and we look forward to reconnecting after Labor Day.
As we look a bit further ahead, we're excited to celebrate FBV's 10-year anniversary in the month of October! We'll be running special features, revisiting some of the major stories and issues we've covered over the years, and expressing our gratitude for the support we've gained along the way.
Before we sign off for the summer, I wanted to point out what we've been up to in the last few weeks.
We were the first to report earlier this month that the two longest-serving independent directors of ASA Gold and Precious Metals Ltd. resigned from the board, and all litigation pursued by activist investor Saba Capital Management against the fund and its legacy directors was in the process of being resolved. The departures have left three Saba-backed directors in control of a boardroom that has been deadlocked since the Bermuda-based closed-end fund's last annual general meeting in May 2024. This is a story we've been covering since it kicked off more than 18 months ago, and we'll continue to follow it closely going forward.
Our latest 10 Things... list looks at what fund boards can expect from artificial intelligence over the next five to 10 years and how governance frameworks may have to adapt to an AI-driven future. It's a handy resource, so don't miss it.
We've also updated readers on the latest people moves in the nation's fund boardrooms. Folks have come and gone—from two brothers who are sons of the adviser's founder joining the Baron Funds boardroom to a well-known industry veteran poised to join a second fund board, this one a UMB Fund Services multiple-series trust.
Finally, in our Added Perspective section, we shared a paper written recently by Ben Bates of Harvard Law School that explores the potential risks to retail investors presented by the much-talked-about access to private markets. It's an interesting read.
Enjoy the rest of summer, and be well. We'll see you in early September!
Gone fishin',
Hillary Jackson, co-founder and editor