Trusted Insight for Independent Oversight

MFDF is an independent association for independent directors of mutual funds, ETFs, closed-end funds, and other registered investment companies.

MFDF helps independent directors navigate an evolving regulatory environment and steward shareholders’ investments. MFDF provides tailored educational resources and facilitates peer-to-peer networking, with offerings that include webinars, white papers, and interactive conferences. As an independent association, MFDF’s membership includes a wide range of fund boards and represents a diverse community of directors.

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Educational Offerings

MFDF provides comprehensive and high-quality educational resources tailored to independent directors. Explore upcoming programs, including webinars, single-day in-person seminars, multi-day conferences, and informal networking discussions.

Insights for the Field

The nature of the work of independent directors is ever-evolving. Read the latest news, practical guidance, comment letters to regulators, and other viewpoints.

Become a Member

Your goal is to steward your investors’ resources. We promise to steward yours. We take our role as your trusted partner seriously. And we pride ourselves on accessible membership dues and meaningful opportunities to learn and connect.

July 17, 2025 Morningstar Releases Report on Semiliquid Funds

Morningstar highlights the landscape, flows, performance, and cost of semiliquid funds. The report details the expansion of private credit and highlights certain investors demand for greater returns, while also emphasizing the noteworthy risk associated with less liquid assets.

July 16, 2025 Supreme Court to Hear CEF Private Right of Action Case

According to a Ropes & Gray client alert, the outcome of the Supreme Court case “will have broad implications for registered funds governed by the ICA (including mutual funds, exchange-traded funds (ETFs) and closed-end funds), as the litigation door opened by the Second Circuit risks upending the long-established regulatory structure that is the fund industry’s bedrock.”

July 15, 2025 Event of Interest: Morgan Lewis to Host ‘AI in the Crosshairs’ Webinar

Morgan Lewis partners Elizabeth Herrington, James Nelson, Rishi Satia, Jaclyn Unis Whittaker, and Ezra Church plan to touch on current investigations by state attorneys general regulatory considerations, and other additional topics.

July 14, 2025 Final Installment in Donohue’s Conflicts of Interest Series

Donohue notes the responsibilities that fund officers and directors have under state law as well as the federal securities laws, including the 1940 Act, which can help to guide the management of potential conflicts relating to financial interests, personal interests, conflicting obligations or family interests.

July 10, 2025 MFDF Event: ETF Conversions for Fund Boards

Ropes & Gray partner Paulita Pike will highlight the top ETF conversion issues that fund boards should consider in their oversight roles.

Upcoming Events

Full calendar

New York July 22, 2025
Director Discussion Series - Open Forum (New York)
MFDF will host an in-person Director Discussion Series lunch meeting in New York City to facilitate discussions for independent directors and CCOs to discuss timely issues brought up by participants. The event will be in-person from 12 pm - 2 pm at the offices of Sidley Austin LLP in New York.
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July 24, 2025
Ask Anything - AI Edition
Speakers from MFDF's AI for Fund Board webinar series returns to host an in-depth Ask Anything on AI session for current independent directors and CCOs. This virtual discussion will take place on Zoom at 11 am (ET).
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July 29, 2025
Use of Derivatives by RICs
Dechert's Philip Hinkle and Katie Cognlan will update directors on the use of derivatives in RICs and what boards should know for their oversight responsibilities. The webinar will broadcast live from 2 pm - 3 pm (ET).
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Newest Resources

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MFDF Member Series - Leveraging MFDF Membership to Locate Future Directors

Leslie Beckbridge, MFDF's Operations and Member Services Manager, highlighted MFDF's Director Candidate Database, a service that provides curated candidate lists in response to member boards' requirements. The webinar provided an overview of the Database, discussed how members can use it as part of succession planning efforts, and shared insights to get the best results from your inquiry.

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Board Diversity Resources

Explore news and resources relating to fund board diversity.

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