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May 21, 2012

MSIM Takes Action On Closed-End Funds

The boards of directors at nine of Morgan Stanley Investment Management’s 13 closed-end funds plan to take a range of actions in response to pressure from dissident shareholders inflamed by the funds’ persistently wide discounts.

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May 21, 2012 - Stan Wilson

Money Fund Reform Dealt Another Blow

Securities and Exchange Commission Commissioner Luis Aguilar last week made statements strongly indicating he would vote against SEC Chairman Mary Schapiro’s money market fund reform proposals.

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May 18, 2012 - Hillary Jackson

Capital Group’s Haaga To Retire…For A While

Paul Haaga, chairman of Capital Research & Management Company, will retire on June 30, handing over his various duties to colleagues within the firm.

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May 18, 2012 - Hillary Jackson

MFDF Issues Guidance On Securities Lending

Mutual Fund Directors Forum for the first time has published guidance for fund directors on the oversight of securities lending programs.

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May 18, 2012 - Hillary Jackson

Anti-Corruption Law Violations Pose Risk To Fund Directors

Mutual fund directors overseeing funds that are marketed and sold outside the United States are exposed to the risks of violating the U.S. Foreign Corrupt Practices Act, the U.K. Bribery Act and similar laws around the world.

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MSIM Takes Action On Closed-End Funds
Money Fund Reform Dealt Another Blow
Capital Group’s Haaga To Retire…For A While
MFDF Issues Guidance On Securities Lending
Anti-Corruption Law Violations Pose Risk To Fund Directors

Current

  • Features

    IDC Says Jaffe ‘Misunderstands’ Role Of Directors

    Wednesday, May 16, 2012 9:43 AM
    Independent Directors Council on Tuesday chastised MarketWatch’s Chuck Jaffe for a recent column he wrote on mutual fund directors. Read More

  • Features

    DeAM Board Member Passes

    Tuesday, May 15, 2012 3:25 PM
    John Cannon, an independent director for Deutsche Asset Management’s closed-end New Germany, European Equity, and Central Europe and Russia funds, died on April 27 Read More

  • Features

    Star Wars Creator Delivers Big In Closing Session

    Friday, May 11, 2012 4:24 PM
    Legendary filmmaker George Lucas took to the stage on Friday at the Investment Company Institute General Membership Meeting and delivered just what the mutual fund industry executives in the audience wanted: stories about Star Wars, Indiana Jones and working in the movie business. Read More

  • Features

    Reporters Notebook

    Friday, May 11, 2012 4:21 PM
    Tidbits from here and there around the Investment Company Institute General Membership Meeting and Independent Directors Council’s Directors Workshop in Washington, D.C., May 9-11. Read More

  • Features

    ‘10 Things I Learned From Howard Schultz’

    Thursday, May 10, 2012 5:24 PM
    Mellody Hobson, chairman of the Investment Company Institute GMM Planning Committee and president of Ariel Investments, gave an inspirational introduction of Howard Schultz, chairman, president and ceo of Starbucks, before his keynote address at lunch on Thursday. Read More

  • Features

    Jaffe Questions Director Oversight, Independence

    Tuesday, May 08, 2012 5:50 PM
    MarketWatch columnist Chuck Jaffe has called into question mutual fund directors’ ability to provide adequate oversight, particularly if they are too reliant upon the fund company for income or if they are in charge of too many funds. Read More

  • Feature: Learning Curve

    Overseeing Sub-Advisors: Five Practical Questions For Boards To Consider

    Wednesday, May 02, 2012 10:58 PM
    Years ago it seemed so simple when it came to managing a fund’s assets—typically the board would hire one advisor to do the job. Read More

  • Inside The Boardroom

    Northern Lights III Goes 100% Independent

    Mar 26 05:00
    The newly formed Northern Lights Fund Trust III board is made up of all independent directors, a rare structure but one that makes sense for a series trust that will offer funds from a variety of unaffiliated advisors. Read More

  • Inside The Boardroom

    Product Development A Priority For Putnam Board

    Mar 21 07:00
    The board of Putnam Funds has increased the amount of time it allocates to interacting with the product development team as the Boston fund firm has ramped up its fund launches and delved into more complex markets and structures.Read More

  • Inside The Boardroom

    New Series Trust Directors Set First-Year Priorities

    Mar 13 08:57
    The new Advisors Investment Trust board members will spend their first year together getting to know one another, while also reviewing and approving new advisors and keeping abreast of international factors that may affect the foreign-based advisors brought into the trust. Read More

  • Inside The Boardroom

    New Covenant Trustees Prep For Sub-Advisor Reviews

    Mar 01 08:00
    The board of New Covenant Funds Trust will hear from representatives of advisor SEI Investments Management Corp. at the end of March as they present the results of a review of the four New Covenant mutual funds. Read More

  • Inside The Boardroom

    Consolidated MassMutual Board Gets Down To Business

    Feb 02 10:00
    The eight independent directors on MassMutual’s new fund board are in the process of familiarizing themselves with funds they didn’t previously oversee and sub-advisors with whom they haven’t worked before. Read More

  • Inside The Boardroom

    Globetrotting Aberdeen Board Focuses On Risk

    Jan 18 07:00
    The board of Aberdeen Funds is allocating more time at its meetings—at the firm’s Philadelphia headquarters and at its London and Singapore offices—to discuss the risks associated with investing in international markets, according to Gerald Malone, chairman of the boards that oversee Aberdeen’s 26 open-end funds and closed-end Aberdeen Asia-Pacific Income Fund.Read More

  • Inside The Boardroom

    Mortgage Fund Board Studies Valuation Model

    Dec 19 05:00
    The directors overseeing a new fund that invests in performing whole mortgages have spent the last several months learning about the fund advisor’s proprietary valuation model to ensure the illiquid assets in the portfolio are being priced properly and the Vertical Capital Income Fund’s daily net asset value is accurate. Read More

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