The Forum's 2011 Directors' Institute is just around the corner. You won't want to miss the premier educational event for fund independent directors. Space is limited, so register today for the 2011 Directors' Institute to be held in Miami from January 25 through 27. A special nightly rate is available to attendees at the InterContinental Miami, the host hotel; however, reservations must be made no later than December 24, 2010. Registration at this event is limited in order to allow participants the maximum opportunity to participate, interact, and share their views, opinions, and problem-solving techniques and experiences.
The first day of the 2011 program will focus on oversight of a fund's use of derivatives, an issue that is receiving considerable attention from SEC staff. The session will explore how funds commonly use derivatives and how board structure can help directors appropriately oversee these often complex investments.
The centerpiece of the Directors' Institute's unique experience is a multi-faceted case study designed specifically to challenge directors with the types of facts and current issues they will encounter during the advisory contract renewal process. Directors work in small groups as boards to identify and analyze the case. The faculty of fund lawyers, consultants and management use their unique perspectives to help directors understand the point of view of other parties to the process. The case study will address issues that the SEC Enforcement staff have signaled that they are interested in pursuing. Some of the issues the program will explore include:
- how directors should address the fees charged to their advisers' non-fund clients;
- board oversight of risk, particularly the potential effect of risk on performance;
- the difficulties of reviewing fund performance in the current market environment;
- cost cuts by advisers in an environment of lower investment returns and profits; and
- fund mergers.
The event will also include a component on negotiation concepts in order to help board members better interact with advisers during contract renewal conversations.
SEC Commissioner Troy Paredes will be this year's keynote speaker. In addition, Ed Blount of the Center for the Study of Financial Market Evolution will discuss the outlook for domestic and global financial regulatory reform.
For more information about this and other Forum events, please visit www.mfdf.org.