From the Editor...

Sometimes it's fun for us to have an excuse to ask an easy question, one whose answer reflects the joy in what we do in our work life each day. We took the occasion of Valentine's Day to do just that by asking some of the independent fund directors we know to share with us—and our readers—what they L O V E about being in the boardroom. The answers were heartwarming; seven of the 10 responses mentioned serving shareholders or investors, several acknowledged the opportunity to work with top-notch colleagues, and there was a clear sense from all of the responses that directors appreciate the intellectual challenges of serving on a fund board. We hope you enjoy our latest 10 Things... list, just for the fun of it!

In recent news, we've reported that Principal Funds is searching for an independent director after an unexpected year-end retirement. The recruiting effort is in progress with the aim of a new hire identified by the end of next month, following the board's upcoming quarterly meeting. We also brought readers the news that a group of experienced '40 Act lawyers have jumped from Goodwin Proctor to Kirkland & Ellis. The move boosts Kirkland & Ellis's presence in the investment management space, particularly with U.S. registered funds and their boards. And in the courts, Saba Capital Management has filed suit against a closed-end fund and its board for employing what it called a "poison pill" strategy designed to fend off the activist investor. It's a situation to watch—and that's just what we're doing. 

Don't forget to download our latest PDF containing recent stories. In the latest issue are stories from December and January, and there's a lot there! 

For now,

Hillary Jackson, founding editor