Purpose To analyze the August 2016 court decision in Sivolella v. AXA Equitable Life Ins. Co. and its implications for cases concerning mutual fund advisory fees under Section 36(b) of the of the Investment Company Act of 1940. Design/methodology/approach Discusses Section 36(b), the...

We examine the relationship between how mutual fund sponsors configure their board(s) of directors and the performance of the funds under a particular board's purview. Fund sponsors utilize either one board to oversee all the funds within a fund family or multiple boards that oversee one fund or...

This study examines boardroom connections that form when corporate executives sit on mutual fund boards. These connections have the potential to facilitate information flow that informs fund investment decisions. I find that fund trades in the executive’s firm anticipate future earnings news...