In the Margins

ValueAct lawsuit puts funds on alert

April 12, 2016

By Reuters

The U.S. government's lawsuit against ValueAct Capital targets could call into question routine practices across the $16 trillion mutual fund industry, according to attorneys and industry representatives. Traditional funds may need to reassess their compliance with disclosure laws, according to a memo to clients from Davis Polk, a New York law firm with expertise in financial services. "Such an institution will have to examine whether it can claim to have a truly 'passive' intent," said the memo, issued in response to the ValueAct case. Read the original story from Reuters.

 

 

Most Read

10 Things
10 Ways…to improve fund board diversity

Mutual fund directors are increasingly interested in enhancing diversity on their boards. The following practical tips on improving board diversity are derived from discussions with directors, ...