Top of the Agenda - Governance

Capital Group plans fund realignment, streamlining of board clusters

By Hillary Jackson

Capital Group has proposed realigning its various funds under four new board clusters, a move that would cut the number of clusters serving the complex by two. In the process, one long-serving director is retiring and a new director candidate has been nominated to join the complex. Shareholders are scheduled ... >> CONTINUE READING <<<

ASA board sees exit of legacy members; Saba now in control

By Hillary Jackson

The two longest-serving independent directors of ASA Gold and Precious Metals Ltd. have resigned from the board, and all litigation pursued by activist investor Saba Capital Management against the fund and its legacy directors is in the process of being resolved. The departures leave three Saba-backed directors in control of ... >> CONTINUE READING <<<

FBV taps fund governance pros for expanded Think Tank

Fund Board Views has refreshed and expanded its Editorial Think Tank ahead of its 10-year anniversary this fall. The nine members will continue to work closely with editorial and publishing to shape FBV's direction, coverage, and offerings to best serve the mutual fund board community and larger fund governance space.

Think ... >> CONTINUE READING <<<

Q&A: Opening the private markets door to retail investors

As the trend toward opening private investment opportunities to retail investors grows, there are a number of issues coming to the forefront for the fund industry—including fund independent directors—to consider. The most common way to provide access is through closed-end funds that have no (or very low) minimum investment thresholds ... >> CONTINUE READING <<<

ASA board enlarged, timeline to AGM unclear

By Hillary Jackson

ASA Gold and Precious Metals Ltd. shareholders voted at a special meeting last week to enlarge the closed-end fund's board and elected a fifth independent director, one put forward by activist investor Saba Capital Management. That new director, Maryann Bruce, said in a letter to shareholders ahead of the meeting that ... >> CONTINUE READING <<<

Saba-ASA battle: Vote on board size, Saba nominee tomorrow

By Hillary Jackson

Shareholders in ASA Gold and Precious Metals Ltd. are being asked to vote tomorrow to expand the size of the closed-end fund's board and elect a candidate put forward by activist investor Saba Capital Management. Should the proxy campaign succeed, it would give members backed by Saba a majority in a boardroom ... >> CONTINUE READING <<<