Standard & Poors announced today that it will team with fund governance consulting firm Management Practice to provide research and data to mutual fund directors.
The joint venture will use Standard & Poors database of 60,000 mutual funds worldwide to offer performance and expense data. Management Practice, meanwhile, will work with the independent directors of fund companies to select peer groups for funds and develop analytic reports.
Sanford Bragg , Standard & Poors managing director, said directors have a tough job in "taking into account the performance and cost of the fund from the perspective of shareholders." The intent, he said, is to give those directors better tools that will make that job easier.