Matthew Fink, president of the Investment Company Institute, made an obvious reference to a recent filing by the Jacob Internet Fund during the ICI’s conference call on mutual fund reforms Thursday.

Saying that ICI does not want fund boards to classify uncles or other relatives on fund boards as "independent," Fink said that one fund manager had done just that, clearly referring to a filing by Ryan Jacob.

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.