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 KeeshanCompensationLeave a 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

Why and How Directors Should Own Fund Shares

Jay KeeshanMutual FundsLeave a Comment

Most directors, whether they serve corporate or fund boards, agree that owning shares in the entity they govern is important. Ownership is tangible proof that the interests of the board are consistent with those of the shareholders they represent. This MPI Bulletin examines fund director share ownership policies but more importantly addresses how directors acquire those shares. Over many years … Read More

The Search for the “T” Shaped Fund Director

Meyrick PayneMutual FundsLeave a Comment

The second step is to forecast retirements. Usually a Fund board will have adopted a retirement age and the necessary changes will be determined by these. In addition, many Boards have rotation rules. In which case a vacancy may be opening up in any of the Committees or indeed in the Board Chairmanship. The third step is forecast the challenges … Read More

What Fund Directors Need to Know about Robo Advisors

Jay KeeshanMutual FundsLeave a Comment

Robo Advisors (Robos) is a method of customized internet based financial advice. They can be simple, essentially an extension of the “model portfolios” financial planners have used for years to help tailor advice to investors to accommodate age, risk tolerance and objectives. Robos can also be complex, actually executing an asset allocation strategy for a client who has no or … Read More

THE 2016 MPI ANNUAL SURVEY OF CHIEF COMPLIANCE OFFICER COMPENSATION

Jay KeeshanMutual FundsLeave a Comment

Management Practice Inc. is pleased to announce the 11th Annual MPI Survey of Mutual Fund Chief Compliance Officer Compensation and Organizational Practices. We would like to thank our past participants in the survey, which continues to be a success and would not be possible without your support. We are now working on this year’s survey and are once again asking … Read More