All Reports & Bulletins
Mutual Fund Director Compensation in 2012 Print E-mail
CCO Responsibilities & Compensation
Written by Jay Keeshan and C. Meyrick Payne of Management Practice, Inc.   

     Management Practice Inc. (MPI) has just completed its 20th annual “Survey of Mutual Fund Director/Trustee Compensation and Governance Practices”, with data covering 1,761 directors from 368 fund families. Full reports and specific board compensation comparisons are available from MPI.

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Exceptional Market and Asset Growth So Why Not Corresponding Industry Profit Margins? Print E-mail
Contract Committee
Written by By Sara Yerkey of Management Practice Inc. (MPI)   
     2012 was a year of fantastic market performance, even amidst slow economic growth. The S&P returned 16% and the aggregate bond index over 4%. So as the year-end earnings reports were announced, why didn’t we hear margins jump or at least climb for asset managers?
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A Practical Framework for Assessing Fund Directorsí Governance Risk - April 2013 Print E-mail
Full Board
Written by C. Meyrick Payne and Jay Keeshan, Management Practice Inc. (MPI)   

     The purpose of this MPI Bulletin is to provide mutual fund directors with a practical framework to oversee risk. This is addressed in three steps: first is assessing known risks such as the absolute risk of errors, omissions, malfeasance or human error; second is overseeing the available procedural mitigation against these risks, including compliance procedures, outside and internal audit, and business risk management techniques; and third is managing the residual risks where fund directors need to be particularly diligent in their governance.

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Fund Directorsí Responsibility for Securities Litigation - February 2013 Print E-mail
Full Board
Written by C. Meyrick Payne (MPI) and W. Edward Massey (NexGenCos LLC)   

When the Portfolio has Suffered a Loss Due to Fraud

     Fund directors often think of the plaintiff’s bar as the enemy and class action lawsuits as the bane of their existence. However, when a securities fraud causes a demonstrable loss in a fund’s portfolio, the resulting class action and the decision whether or not to take direct action sometimes represents a sizeable fund asset in the form of an eventual settlement. This bulletin discusses five questions that fund directors should ask themselves about this potential asset and how best to pursue restitution.

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Being a Fund Director is All About the Question Mark - January 2013 Print E-mail
Full Board
Written by C. Meyrick Payne and Jay Keeshan of Management Practice Inc. (MPI)   

     At many board meetings, the question "What is the difference between good governance and micromanagement?" often arises. The answer is never very satisfactory and goes something like "We know it when we see it". The purpose of this bulletin is to explore this sensitive subject, and it often involves the directors’ intent and approach when working with management.

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