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Monday, May 03, 2010|
WSJ Ponders Criticism of Mutual Fund Directors
Fundsters interested in recent debates over mutual fund boards may want to take a look at Sam Mamudi's column this morning in the Wall Street Journal's monthly "Investing in Funds" special report. Mamudi talks to a number of industry insiders and independent directors, including: Adam Bold, found of the Mutual Fund Store; Bruce Crockett, chairman of the board for Invesco's U.S. mutual funds; Tony Deering, an independent director for T. Rowe Price's mutual funds; Alan Palmiter, a law professor at Wake Forest University; Ben Phillips, director of research at Casey Quirk & Associates; Heidi Stam, general counsel at Vanguard; and Ralph Ward, publisher of Business Insider.
The WSJ notes the recent U.S. Supreme Court ruling in Jones v. Harris Associates on mutual fund fees and points out other issues like the extreme rarity of boards actually replacing funds' investment advisors and the fact that many boards oversee tens, if not more than a hundred, of different funds.
In the same section, the WSJ also offers readers an eight-question quiz to help gauge their knowledge of mutual fund directors.
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