From the Editor...
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Just yesterday, we provided an exclusive preview of Management Practice Inc.'s latest survey on independent director compensation and governance practices. MPI Partner Jay Keeshan is discussing the survey results this afternoon during a webinar with MFDF, but we've given you the highlights, which include an uptick in take-home pay, the creeping up of mandatory retirement age requirements, and continued commitment to diversity in fund boardrooms. Read our story for all the details.
We also recently reported on some comings and goings in the boardroom of Vanguard Funds. The biggest changes, of which we've more recently learned, are that the board is preparing to install an independent chairman for the first time and will welcome three new directors—one independent and two interested—into the group in the coming weeks. We'll have more on how these changes are taking shape soon.
Our latest 10 Things... list covers ways to improve diversity in the boardroom, a topic that is front of mind for many fund governance professionals. It was authored by MFDF's Carolyn McPhillips and IDC's Tom Kim following their first-of-its-kind co-hosted event on the subject. And we've got a look at how advisers are getting into private markets and what the existing fund board should know about those plans and the types of products they may end up overseeing.
Finally, don't miss the op-ed written recently by Sara Yerkey and Paul Ellenbogen. In it, they argue that a new rule regarding tailored shareholder reports may muddle the 15(c) process for boards.
We publish an easy-to-read PDF each month to make sure readers don't miss any important news or information. You can download the latest issue here.
For now,
Hillary Jackson, founding editor