Registration
Board Oversight of Multi-Manager Funds and Sub-Advisers
November 29, 2011, Forum Webinar Series
Overview
Funds are hiring more sub-advisers and, in many cases, moving to a multi-manager structure. Board oversight of multiple sub-advisers can raise some unique independence, compliance, board reporting and other similar issues. Drinker Biddle partners Diana McCarthy and Josh Deringer will provide some practical insight on how boards can effectively organize their oversight responsibilities of sub-advisers.
The event will be broadcast live from 2:00 to 3:00 Eastern time on Tuesday, November 29.
Diana McCarthy
Partner
Drinker Biddle
Diana McCarthy joined the firm in 1994 and is a partner in the Investment Management Group.
Investment Management. Diana has substantial experience in representing a broad spectrum of investment management clients including: registered open- and closed-end investment companies; private investment entities; exchange-traded funds; and broker-dealers. She has counseled multiple class funds, funds serving as underlying investment vehicles for variable insurance products and multimanager funds. In addition, she regularly counsels investment advisers on regulatory requirements, risk management and compliance issues, and has handled a number of reorganizations of investment products and acquisitions and mergers of investment companies and investment advisers. Her practice emphasizes legal, regulatory and structural issues related to the investment management business, including but not limited to extensive representations of independent directors of fund complexes. She has advised a number of investment advisers and broker dealers subject to SEC orders for securities law violations, including insider trading, market timing and late trading, with regard to improvements in their oversight and controls of employees and operations. She is a frequent lecturer on investment management issues.
Corporate and Securities. Diana has represented a number of issuers and underwriters in public offerings and also has substantial experience in tender offers and 144A debt offerings and exchange offers and regularly counsels clients on federal securities law compliance. Diana's other corporate work has included representing both purchasers and sellers in acquisitions involving domestic and foreign entities, including leveraged buyouts.
In General. Diana is a member of the Business Section of the American Bar Association, the Corporation, Banking and Business Law Sections of the Pennsylvania Bar Association and the Investment Companies Committee of the Philadelphia Bar Association. She is also secretary, first vice president, chair of the Governance Committee and a director of Turning Points for Children, a nonprofit corporation. She is a member of the Pennsylvania bar. Prior to joining the firm, she was a clerk for United States District Court Judge Raymond Broderick in the Eastern District of Pennsylvania. She was also editor-in-chief of the Temple Law Review.
Josh Deringer
Partner
Drinker Biddle
Joshua B. Deringer is a partner in the Investment Management Group. He counsels a wide range of national and international financial service companies involved in all aspects of the investment management industry, including registered investment companies, hedge funds and other alternative investment vehicles, as well as investment advisers.
Investment Companies. Josh has extensive experience in organizing, counseling and reorganizing open- and closed-end investment companies. His clients include multi-series and multi-class mutual funds, registered fund of funds, multi-manager funds and exchange-traded funds. Josh also has substantial experience counseling boards of directors and related parties on: fund governance; fiduciary duties; best practices; compliance policies and procedures; and regulatory investigations and inspections. He has worked closely with regulators on a broad range of issues and products.
Hedge Funds, Private Equity Funds and Other Alternative Investment Products. Josh's practice also focuses on advising domestic and offshore hedge funds and private equity funds in planning, funding and structuring strategies (including documentation and agreements) and their day-to-day operations.
Investment Advisers. Josh has experience with the organization, day-to-day operations, and mergers and acquisitions of investment advisers. He counsels them on a wide range of matters, including investment, regulatory and compliance issues such as SEC investigations and inspections, compliance policies and procedures, contract reviews, advertising, soft dollars, trade allocation and valuation of securities.
Professional Background. Josh received his undergraduate degree from the University of Pennsylvania (1996) and his law degree from Fordham University School of Law (2000). He is recognized in Chambers USA as a leading investment management lawyer and described by a client as a lawyer who "describes things in terms that we can understand and takes a real-world approach to issues instead of a purely theoretical one." He is a member of the Hedge Fund Association, Managed Funds Association and the Mid-Atlantic Hedge Fund Association. Josh is a frequent speaker at securities law conferences and a widely published author. He has written many articles on investment management industry topics, and regularly comments on developments in financial services and investment management for industry and business publications.
Program Info
Registration
This event is open to all mutual fund industry professionals. To register for this event online, please click on the "Register" button and complete the required information. You may also register by contacting the Forum directly at 202.507.4488.
Webinar Fees
Forum Members: Free
Please note that Forum members will need to login to their account on this site in order to receive member pricing when registering online.
Non-Members $100
Materials
Webinar Archive: Board Oversight of Multi-Manager Funds and Subadvisers
This webinar focuses on multi-manager funds and subadvisers. Drinker Biddle partners Diana McCarthy and Josh Deringer outline issues relevant to fund boards. read more