Mutual fund directors' salaries continued to climb last year despite widespread criticism that many trustees failed in their duties to uphold shareholders' interests, The Wall Street Journal reports.
Separate studies by Equilar Inc, a compensation specialist, and investment consultant Management Practice both found that directors' salaries mostly held their ground and in some cases inched up in spite of high-profile regulatory probes of corporate boardrooms. Median salaries of trustees at the nation's 50 largest fund families grew by 13% last year to $128,000 from $113,000 in the previous year, according to Management Practice.
The staff of Money Management Executive ("MME") has prepared these capsule summaries based on reports published by the news sources to which they are attributed. Those news sources are not associated with MME, and have not prepared, sponsored, endorsed, or approved these summaries.