10 Things

10 Things...to consider when merging boards
By FBV Staff
Mergers of mutual fund boards can take place within a large fund complex—as is taking place now at Columbia Funds and occurred earlier this month at AllianceBernstein Funds—or between fund complexes—as when the TCW Funds and MetWest Funds boards combined last year or when four boards were consolidated to two ...  >> CONTINUE READING <<<

 

 

Top of the Agenda - Legal

Vanguard-SEC deal first step in ending target-date fund woes
Vanguard Group will pay more than $100 million to settle charges with the Securities and Exchange Commission related to misleading statements about its target-date funds. The settlement is a first step toward resolving years-long regulatory and legal troubles for the adviser and its fund board stemming from a decision in ...  >> CONTINUE READING <<<

 

 

Top of the Agenda - Governance

BlackRock, Saba in 'win-win' agreement over two CEFs
BlackRock will conduct tender offers to repurchase common shares of two of its closed-end funds, part of a standstill agreement that will hold off Saba Capital Management's targeting of the funds' performance and governance practices for three years. Boaz Weinstein, Saba's founder and CIO, said on the X social media ...  >> CONTINUE READING <<<

 

 

Top of the Agenda - Governance

Governance consolidation on tap for Columbia Funds
By Hillary Jackson
Columbia Funds is in the process of consolidating governance into a unitary board by moving the seven funds in the Columbia Acorn Trust and Wanger Advisors Trust into the group of funds overseen by the Columbia Funds board. The five-member Acorn/Wanger Funds board will be dissolved, and none of the ...  >> CONTINUE READING <<<

 

 

Top of the Agenda - Regulatory

Names Rule FAQs: Some clarity, but not enough
By Hillary Jackson
The Securities and Exchange Commission issued FAQs on the amended Names Rule last week, a development expected by a fund industry that has been requesting guidance since the amendments were adopted in 2023. And while the new FAQs address some issues, they fail to address all issues related to the ...  >> CONTINUE READING <<<

 

 


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10 Things
10 Things...to know about BDCs

Congress created business development companies in 1980 to support job growth and help emerging companies raise funds. As of 2023, there were 139 BDCs with $312 ...