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David S. Ruder, William W. Gurley Memorial Professor at Northwestern University School of Law and former Securities and Exchange Commission chairman, announced April 29, 2002, the formal organization of the Mutual Fund Directors Forum, a non-profit organization focused on the needs of mutual fund directors.

The forum will provide educational and outreach programs as well as opportunities for directors to exchange views and develop policy recommendations on matters of common interest. Its formation signifies the revitalization and re-organization of the Mutual Fund Directors Education Council, a group convened in 1999 in response to the SEC's call for improved fund governance.

"In light of the renewed emphasis upon the need for independent director oversight of all corporations, we believe it is important to focus on the special role of independent directors of mutual funds, who have responsibility for overseeing approximately $7 trillion in investor assets," said Ruder. "We believe that a revitalized forum can play a major role in ensuring strong independent director oversight by promoting high standards and practices."

The Mutual Fund Directors Forum, whose membership is limited to mutual fund independent directors, intends, among other things, to provide a newsletter and e-mail communication vehicle for its members, including the creation of a Web site; conduct annual policy conferences designed to identify and discuss major policy issues of importance to fund directors; conduct executive education courses; function as an information resource for independent directors; and serve as an occasional sponsor of research regarding important subjects of interest to fund directors.

Former members of the Mutual Fund Directors Education Council have been invited to participate in the Mutual Fund Directors Forum as members of its advisory board. Northwestern University School of Law will act as administrator of forum programs.

Officers and directors of the Mutual Fund Directors Forum are:

Professor David S. Ruder
Chairman and Director

Allan S. Mostoff
President, Treasurer and Director

Fergus Reid
Secretary and Director
Independent Director and Chairman, J.P. Morgan/Chase Funds
Independent Director and Chairman of Corporate Governance Committee, Morgan Stanley Funds

Carl Frischling
Director
Independent Director, AIM Funds

Wayne W. Whalen
Director
Chairman, Van Kampen Funds

Jean Gleason Stromberg
Director
Independent Director, Scudder Funds

For further information, please contact Professor David S. Ruder at (312) 503-8444 or Allan S. Mostoff at (202) 261-3310.

 

 

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