The discussion at the November 11 CFL focused on board oversight of alternative investments and on fund trading issues. Featured speakers included Andrew J. "Buddy" Donohue, Deputy General Counsel at Goldman Sachs Asset Management, and Brad Katsuyama, President & CEO of IEX, the first buy-side owned ATS in the United States.
Former SEC Division of Investment Management Director Andrew J. Donohue, now with Goldman Sachs, lead an interactive session on important board considerations for overseeing alternative funds. The conversation addressed some of the business reasons advisers begin to offer alternative strategies within funds. In addition, the discussion focused on some of the most significant director oversight challenges in this area, including how much directors should understand about the strategies to be employed in the fund, how the board can assess the fund’s performance, and some of the most significant compliance issues presented by these funds.
Brad Katsuyama, the President and CEO of IEX, lead a discussion of fund trading issues, in particular the impact of high frequency traders on mutual fund trade execution. IEX is a newly established alternative trading venue that is funded by mutual funds, hedge funds, family offices and individuals that is designed to limit the advantages of high speed traders. Brad focused on the challenges for fund traders and how mutual fund shareholders can be disadvantaged in some current trading venues. Brad was recently the subject of an interview in the New York Times.
The CFL is a unique gathering which provides fund independent chairs and lead independent directors with an opportunity to discuss important issues with other fund leaders. The Conference of Fund Leaders (CFL) is a partnership of the Mutual Fund Directors Forum, the Ira M. Millstein Center for Global Markets and Corporate Ownership at the Columbia Law School, and independent leaders of mutual fund boards of trustees.
President & CEO
Andrew J. "Buddy" Donohue
Goldman Sachs Asset Management
WHO SHOULD ATTEND
PRESS / MEDIA