A task force organized by a unit of the Investment Company Institute, the investment management industry's leading trade group, has determined that oversight of multiple funds by quality independent directors enhances the efficiencies and effectiveness of a fund family and drives shareholder value.

The Independent Directors Council (IDC) task force was formed to answer two issues: a recent public discussion of whether oversight limits might be appropriate and, per a mandate from the Securities and Exchange Commission, whether the matter should be included in board annual assessments.

Subscribe Now

Access to premium content including in-depth coverage of mutual funds, hedge funds, 401(K)s, 529 plans, and more.

3-Week Free Trial

Insight and analysis into the management, marketing, operations and technology of the asset management industry.