Trusted Insight for Independent Oversight

MFDF is an independent association for independent directors of mutual funds, ETFs, closed-end funds, and other registered investment companies.

MFDF helps independent directors navigate an evolving regulatory environment and steward shareholders’ investments. MFDF provides tailored educational resources and facilitates peer-to-peer networking, with offerings that include webinars, white papers, and interactive conferences. As an independent association, MFDF’s membership includes a wide range of fund boards and represents a diverse community of directors.

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Educational Offerings

MFDF provides comprehensive and high-quality educational resources tailored to independent directors. Explore upcoming programs, including webinars, single-day in-person seminars, multi-day conferences, and informal networking discussions.

Insights for the Field

The nature of the work of independent directors is ever-evolving. Read the latest news, practical guidance, comment letters to regulators, and other viewpoints.

Become a Member

Your goal is to steward your investors’ resources. We promise to steward yours. We take our role as your trusted partner seriously. And we pride ourselves on accessible membership dues and meaningful opportunities to learn and connect.

September 10, 2026 MFDF Webinar: How the SPIVA U.S. Scorecard Understates the Performance of Actively Managed Mutual Funds

In this webinar, moderated by IAA President & CEO Karen Barr, authors Jon Fulkerson and Timothy B. Riley will discuss the study’s methodology and review its findings. The study argues that the SPIVA U.S. Scorecard “consistently and substantially” understates the performance of actively managed funds due to certain “empirical choices” in its methodology.
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September 9, 2026 SEC Provides No-Action Relief for ETF Concentration Policy Exceedances

In late July, the Securities and Exchange Commission (SEC) Division of Investment Management issued a no-action relief letter to an industry trade association confirming that the Commission staff would not recommend an enforcement action against an ETF issuer that exceeds its disclosed industry concentration policy so long as certain conditions are met.
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September 8, 2026 MFDF Webinar: Intermediary Fees: What Today’s Trends Mean for Independent Directors

Barrington Partners will share key insights from its latest Intermediary Fee Survey to help independent directors understand how current market trends may inform effective fee oversight.
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September 3, 2026 MFDF Webinar: How Tokenization is Reshaping Funds: A Director’s Guide

Stradley partners Jamie Gershkow and Jesse Kanach will outline practical frameworks to help independent fund directors understand the fundamentals of tokenization and key considerations related to oversight of tokenized products.
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September 2, 2026 MFDF Files Comment Letter on Novel ETFs

MFDF’s comment letter encouraged the Commission to better delineate what types of traded vehicles are eligible for RIC status under the Investment Company Act of 1940 and which fall under other regulatory schemes. Clarity for investors also would be enhanced by limiting the vehicles that can call themselves “ETFs” only to funds that are registered under the Investment Company Act.
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MFDF Member Series - Leveraging MFDF Membership to Locate Future Directors

Leslie Beckbridge, MFDF's Operations and Member Services Manager, highlighted MFDF's Director Candidate Database, a service that provides curated candidate lists in response to member boards' requirements.  The webinar provided an overview of the Database, discussed how members can use it as part of succession planning efforts, and shared insights to get the best results from your inquiry.

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Board Diversity Resources

Explore news and resources relating to fund board diversity.

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