The Challenges of Declining Fund Assets: The Independent Directors’ Responsibility at Contract Renewal

Sara YerkeyFund Directors, Mutual FundsLeave a Comment

Mutual funds with steadily increasing assets are generally positive indicators for fund directors and shareholders alike. However, declining assets in a fund are just as likely. The purpose of this article is to highlight some of a fund director’s responsibilities, particularly in the contract renewal process, when the asset base is shrinking. The first order of business for the fund … Read More

Trust, Blockchain and Cryptocurrencies for Fund Directors

Sara YerkeyMutual FundsLeave a Comment

The relevance of blockchain and cryptocurrencies to the mutual fund industry can be easily understood once the similarities are recognized between the “trust technology” of 1940 Act mutual funds and that of cryptocurrencies. Just like law or technology degrees aren’t needed for trust in today’s mutual funds, you don’t need a mathematics degree to trust cryptocurrencies. The technical jargon surrounding … Read More

Customizing 15(c) Practices and Materials for Today’s Fund Offerings

Sara YerkeyMutual FundsLeave a Comment

Few would dispute that the investment management industry has witnessed transformational changes in the past decade…both the Commission and investors should have access to more substantive… information about funds and their advisers. David W. Grim, SEC Director of the Division of Investment Management, March 2016 When Section 15(c) of the Investment Company Act of 1940 was written, there were no … Read More

The Looming Retirement Crisis: Retirement Investors are Overpaying for Liquidity

Sara YerkeyMutual Funds, RetirementLeave a Comment

America’s workers face a massive challenge as they save for retirement. A guaranteed monthly check that they (and their spouse) can depend upon for the rest of their lives is not an option with most pension plans. Direct contribution plans give more control to investors, but in the end these plans are largely failing them. Several industry estimates put the … 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