From the Editor...
The best laid plans, as they say...Looks like mutual fund boards are either scrapping plans to resume in-person meetings or going back to virtual after getting together in late summer. We've come a long way, but the pandemic appears not to be over yet, so the better-safe-than-sorry approach seems prudent. And given that the majority of independent directors seamlessly transitioned to the virtual meeting space when forced to in early 2020, continuing in that format shouldn't be too big an issue. Of course, we're all anxious to get back to "normal" life.
We recently also reported, exclusively, that independent fund directors took home bigger compensation packages in 2020. Independent Directors Council has published its annual study of director compensation and board practices, as we've pulled out some of the numbers for you, as well as looked at some of the hiring trends highlighted in the study report.
In other news, JPMorgan's two boards—overseeing open-end and exchange-traded funds—are in the process of combining to form a unitary board and provide consolidated governance and oversight. The move is in line with industry practices, which favors a single board over several boards or board clusters.
Don't miss our latest Viewpoints, authored by FundGuard's Kirk Littleton. He explores the issue of NAV resiliency and contingency planning, and there's a lot of really useful information in there.
We are currently seeking contributors to our Viewpoints section. If you'd like to write on a fund governance-related issue, please email me and we'll discuss the topic and set up a timeline. This section is not behind our paywall and is a great way to get some exposure to our readers and share within your own network. I'm looking forward to hearing from you—and working with you!
Hillary Jackson, founding editor