Defending Against Arbitrage Attacks on Closed-End Funds

Meyrick PayneMutual FundsLeave a Comment

Closed-end funds are often formed because they offer investors an opportunity to invest in a focused portfolio which meets their specific needs, usually with built-in leverage, potentially higher returns,and tax advantages. Often the investment focus of the fund is fashionable at the time it is launched. Theoretically the investor can get their money out by selling shares to another investor … Read More

Fund Board Service: Age, Term or No Limits

Sara YerkeyFund DirectorsLeave a Comment

Being a mutual fund director is a uniquely influential position and it can be quite rewarding, both psychologically as well as monetarily. Once someone has become one there are few mechanisms by which he or she can be displaced. The purpose of this MPI Bulletin is to explore the advantages and disadvantages of placing age, term, or no limits on … Read More

The Search for the “T” Shaped Fund Director

Meyrick PayneMutual Funds, RetirementLeave a Comment

Based on MPI’s Annual Trustee Compensation and Governance Practices Survey, we believe that 25% of the sitting mutual fund board directors will retire or step aside due to fund mergers in the next five years. As a result, many Fund Boards will need to recruit new Trustees during this period. These Boards will go through the process of identifying gaps … Read More

The 2018 MPI Mutual Fund CCO Compensation Survey (Summary)

Jay KeeshanCompensation1 Comment

MPI recently completed its thirteenth annual Survey of Mutual Fund Chief Compliance Officer Compensation and Organizational Practices. This bulletin summarizes the findings and is based on the submissions of 66 mutual fund CCOs from all regions of the U.S., representing funds with $2.9 trillion in assets. This year’s study found that 64% of the participants were full-time employees and serve … Read More