By Gary French
So, you want to be a mutual fund director. Or perhaps you are a newly appointed director serving for the first time. As with any new role, there is a lot to learn, particularly in this highly regulated yet strangely unstructured environment. The primary message here is to be proactive during the entire process.
Understand the Legal and Regulatory Structure of the Group
Undertake an in-depth analysis of the fund group to determine whether you are, in fact, qualified—and willing—to act as a director. Knowing up front the challenges of understanding the funds’ structure and how it impacts daily operations will provide a strong sense of the effort required simply to attain the minimal level of understanding.
If the funds utilize a master/feeder structure or are exchange traded funds, are you conversant with legal and regulatory issues that impact those types of entities?
Do you ....