From the Editor...
Today marks the first day of our end-of-year publishing break, which will run through Jan. 1. I'm sure we're not alone in needing a break and looking forward to time spent with family and friends, enjoying all this time of year has to offer. Dan and I are wishing all the best to you and yours, and we're looking forward to working with you in 2024. But, before we go, here's what we've been up to the last couple weeks:
Saba Capital Management scored another win in the courts, which it's been using to fight several closed-end funds on the issue of control share provisions. After victory at the appellate court level on Nov. 30 against several Nuveen Investments funds and their board members, a lower court ruled in Saba's favor just a week later in a case against funds run by BlackRock and others, as well as BlackRock Funds' independent directors. The BlackRock ruling was the third victory for Saba this year, and we'll be keeping an eye on this space in the new year.
Another area on which we focused recently is boards overseeing small fund complexes, which often don't get the attention they deserve. In a bid to help these boards get conversations started, we've published a 10 Things... list on the challenges they face. It's a good read and offers perspective on that segment of the market and their specific issues.
Finally, don't miss our latest Viewpoints, penned by Hassell McClellan, chair of John Hancock Funds, and Robi Krempus of Manulife Investment Management. The two authors tackle artificial intelligence and how mutual fund boards should be thinking about it. It's a great read and provides a lot of food for thought as the asset management business heads into this new territory.
Enjoy the last two weeks of 2023, and Happy New Year! We'll catch you on the flip side.
Hillary Jackson, founding editor