Membership

MFDF’s community represents fund complexes of all sizes with a range of types, strategies, and assets under management. Our network includes diverse directors across tenure, background, and region.

MFDF sustains our community with access to the latest information and meaningful opportunities to connect with peers. We provide insights into the fast-changing regulatory environment and represent the voices of directors through comment letters to rulemaking bodies.

MFDF Membership is limited to the independent directors of boards of U.S. registered investment companies. Each member group has a seat on the MFDF Steering Committee, which gives members the opportunity to participate regularly in planning activities and formulating policy positions.

MFDF’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 below dues schedule entitles all of the independent directors in the fund group to MFDF membership. For independent directors who serve on multiple boards of funds under common management, MFDF suggests that dues and related expenses be apportioned among the funds in the complex fairly and reasonably.

MFDF has received a favorable interpretive letter from the SEC staff agreeing that funds may pay MFDF-related dues and expenses of their independent directors without violating the Investment Company Act prohibitions against joint arrangements. For more, read the No-Action Letter.

To join MFDF, please complete the MFDF Membership Application. If you require more information or need assistance with the application, please contact the MFDF team via email (hello@mfdf.org) or at 202.507.4488.

Dues Schedule