Retirement Policy and Succession Planning
Fund directors are not subject to any regulatory requirement relating to their retirement, but the topic is sometimes addressed in fund boards’ annual self-assessments. Roughly two-thirds of fund boards have mandatory retirement policies. The ICI Advisory Group on Best Practices for Fund Directors recommended that fund boards adopt policies on the retirement of directors, but declined to specify the type of policy (e.g., term limits) or to recommend a retirement age.
FAQs and Resource Centers
Frequently Asked Questions About Mutual Fund Directors
I. Introduction to Mutual Fund Boards and Directors II. Duties and Responsibilities III. Service on...
Overview of Mutual Fund Governance
A. Fund Boards Follow Strong Governance Practices to Best Serve Shareholders Fund boards are...
Publications
Overview of Fund Governance Practices, 1994–2018 (pdf)
Video: Governance Practices
Fundamentals for Newer Directors 2014 (pdf)
Considerations for Board Composition: From Recruitment Through Retirement (pdf)
Board Self-Assessments: Seeking to Improve Mutual Fund Board Effectiveness (pdf)
A Summary of the Report of the Advisory Group on Best Practices for Fund Directors
Enhancing a Culture of Independence and Effectiveness Making a Strong System Even Stronger The fund...
Report of the Advisory Group on Best Practices for Fund Directors (pdf)
ICI Statement on Japan's Asset Management Policy Reforms
July 1, 2024—ICI President and CEO Eric J. Pan released a statement on the Japanese government’s...