Top of the Agenda - Legal

Vanguard close to $25M settlement in class-action suit
By Hillary Jackson
A federal judge has given preliminary approval to a plan for Vanguard Group to pay $25 million to settle a class-action suit related to misleading statements about its target-date funds. Vanguard and its fund board have faced years of legal and regulatory challenges resulting from the adviser's decision in late ...  >> CONTINUE READING <<<

 

 

Top of the Agenda - Legal

MFDF, ICI push Supreme Court to nix private right of action ruling
By Hillary Jackson
The Investment Company Institute and MFDF this week urged the U.S. Supreme Court to rule against allowing private parties to bring claims that fund contracts violate the Investment Company Act of 1940. Such claims have been used—successfully—by activist investors in recent years to challenge closed-end funds' defensive measures. The Court agreed ...  >> CONTINUE READING <<<

 

 

Top of the Agenda - Compensation

IDC: Fund director pay climbs again in 2024
By Hillary Jackson
Mutual fund independent directors earned more in 2024 than in the year prior, and the pace at which their compensation grew was also higher year-on-year, according to industry data obtained by Fund Board Views. Overall, median and average pay levels were up 4.7% and 3.2%, respectively, last year, while increases ...  >> CONTINUE READING <<<

 

 

Added Perspective

Retail access to private markets
By Benjamin Bates, Harvard Law School
In recent years, asset managers have launched dozens of products that provide retail investors with access to private market investments. Sponsors are promoting these funds as a way to “democratize” private markets and give savers an unprecedented opportunity to diversify their portfolios and earn attractive returns. In this paper, I ...  >> CONTINUE READING <<<

 

 

Top of the Agenda - Succession

Who's at the Table? Latest boardroom people moves
FBV’s Who’s at the Table? feature is where readers can stay up to date on the latest comings and goings in mutual fund boardrooms, as independent directors wrap up their service or take on new roles and responsibilities, and new individuals join the ranks of the fund independent director. Who’s ...  >> CONTINUE READING <<<

 

 


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Top of the Agenda - Compensation
IDC: Fund director pay climbs again in 2024

Mutual fund independent directors earned more in 2024 than in the year prior, and the pace at which their compensation grew was also higher year-on-year, according ...