From the Editor...

June 5, 2023

By Hillary Jackson

From the Editor...


Diversity & inclusion is such an important topic—in our everyday lives, our places of employment, and in boardrooms. In recent years, Investment Company Institute and Independent Directors Council have devoted resources and time to examining and promoting D&I throughout the asset management business—including on mutual fund boards. Recently, ICI released data showing that representation of minority groups in the industry has increased since 2020, while the number of women in the business decreased slightly during the same time period. The figures were released in isolation, and the ICI declined to comment on them, but the conversation is a good one to keep having, and we will continue reporting on this topic.


What we do know is that the D&I trend in mutual fund boardrooms is encouraging, as we reported last month when Management Practice Inc. released its latest data on independent director compensation and governance practices, and last year when we reported 2021 IDC figures


On the regulatory front, there has been so much rulemaking activity out of the SEC recently, and the industry is working hard to keep up to date and get into compliance with those rules that already have been finalized and adopted. With that in mind, we devoted our most recent 10 Things... list to what fund boards should know, ask, and discuss about tailored shareholder reports. Board duties won't change under the new rule, but directors should be up to speed—and be making sure the adviser and funds are on track to comply with the effective date. This list will help you do that!


And in boardroom news, Principal Funds recently opted to replace its outgoing interested chair with a new interested chair. There has been a lot of change on that board in recent years; read our story for the latest. 


Don't forget to download our latest PDF, which includes all the FBV stories from the month of May. And get in touch if you've got a question, story idea, or want to write a Viewpoints article! We'd love to hear from you.


For now, 


Hillary Jackson, founding editor



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