What services does the Forum provide?
Through its annual Major Issues Policy Conference, Regional Seminars, issue breakfasts, website, newsletters, and other activities, the Forum provides mutual fund independent directors with the tools and information necessary to stay abreast of current topics and issues. The Forum's programs and services are designed to enhance the ability of investment company independent directors to discharge their fiduciary obligations. Details on member benefits can be found here.
Who can join?
Membership in the Forum is limited to the independent directors of U.S. registered investment companies.
Who belongs to the Forum?
The Forum's membership currently includes the independent directors of fund complexes of all sizes. Each member group has a seat on the Forum's Steering Committee, giving members the opportunity to participate on a regular basis in the planning of Forum activities and the formulation of Forum policy positions.
What does it cost to join?
The Forum's membership dues schedule is scaled to the amount of assets of each participating group of funds under the management of a common adviser. Payment of the amounts specified in the schedule below entitles all of the independent directors in the fund group to membership in the Forum. For independent directors who serve on multiple boards of funds under common management, the Forum suggests that their dues and Forum related expenses be apportioned among the funds in the complex in a fair and reasonable manner. The Forum has received a favorable interpretive letter from the SEC staff agreeing that funds may pay the Forum related dues and expenses of their independent directors without violating Investment Company Act prohibitions against joint arrangements. Click here to read the No-Action Letter.
Forum dues are collected annually from members funds at the beginning of each calendar year. Dues are based on the assets under management of the fund/fund cluster. The dues levels are listed below:
|AUM in $Billions||Annual Dues|
|$0 - 2||$2,500|
|$2 - 5||$5,000|
|$5 - 20||$10,000|
|$20 - 50||$20,000|
|$50 - 75||$30,000|
|$75 - 100||$40,000|
Dues for new members joining mid-year are pro-rated for their first year of membership.
How do we join the Forum?