From the Editor...

We've made some improvements to our website, which you can visit at www.fundboardviews.com.

First, we recognize that artificial intelligence and its capabilities are an important discussion in the mutual fund industry—probably forevermore. We've been writing about AI for years, of course, but recently have noticed an uptick in how frequently the topic is coming up in the context of fund independent directors and boards. So, we've added a click-through button on our site to bring readers directly to the articles we publish that pertain to (in any and all ways) AI in the Boardroom. Check out our recent, and past, coverage.

Second, we've added a library of all the e-books we've created and published in the past nearly 10 years. We hope this will provide readers with easy access to publications we believe serve as great resources. Click on E-book Library along the top menu bar on our home page to check out what's there, and download what interests you. 

We value feedback from readers, so feel free to drop us a line about what you love on our site, as well as what may need updating or improvement!

In the news recently, we've covered the U.S. Supreme Court's decision this week to consider whether private parties should be allowed to bring claims that fund contracts violate the Investment Company Act of 1940. This is a significant development after years of activist investors using the courts to challenge closed-end funds' defensive measures. A briefing schedule has yet to be negotiated ahead of the Court's fall sitting, which starts on Oct. 6. 

Speaking of activist investors, an 18-month-long battle between Saba Capital Management and the ASA Gold and Precious Metals heated up in mid-June when shareholders voted at a special meeting to enlarge the closed-end fund's board and elected a fifth independent director put forward by Saba. The now five-member board is tasked with moving past the dysfunction that has deadlocked any progress for more than a year and scheduling an annual general meeting.

We were the first to report that mutual fund chief compliance officers earned over 9% more in 2024 when compared to the year prior, largely due to profit sharing tied to better performing markets. "As goes the industry, so goes their compensation," said Jay Keeshan, a partner at Management Practice Inc., ahead of the release of MPI's 2025 Survey of Mutual Fund Chief Compliance Officer Compensation and Organizational Practices. 

And finally, we kicked off summer with our annual Summer Reading List. Always a favorite, the 2025 list features recent fiction, non-fiction, short stories, autobiographies, memoirs, and leadership books. Bonus reads includes books written by fund independent directors Martin Luther King III of TCW MetWest Funds and Donna Rapaccioli of State Street Global Advisors Funds. Happy reading!

We're working on a Q&A and have a Viewpoints in the hopper, so watch this space. 

For now,

Hillary Jackson, co-founder and editor