Do mutual fund boards have committees?
Yes, many boards establish committees to focus on specific subject matters (e.g., audit, governance, investments). The time and effort required of mutual fund directors, especially independent directors, have grown exponentially as the industry has increased in size and complexity and as new regulations have expanded directors’ duties. In this environment, boards frequently use committees to help manage their workloads and to enable greater in-depth review and oversight of particular aspects of the fund’s operations.
