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.

October 14, 2026 MFDF Webinar: Modernizing Fund Board Communications: Policies, Security, and Recordkeeping

As technology becomes integral to nearly every form of communication, fund boards may review their communication and documentation policies regularly to keep pace with evolving tools and risks. Partners at Skadden, Arps, Slate, Meagher & Flom LLP will outline core frameworks and practical considerations to help independent fund directors evaluate and update their board communication practices and policies.

October 13, 2026 MFDF Webinar: MFDF No-Action Relief for Directed Voting Programs Decoded – What Relief Means for Funds and Fund Directors

Ropes & Gray attorneys Paulita Pike and Jessica Lees will take a deep dive into the recent no-action relief granted to MFDF by the Securities and Exchange Commission (SEC). The Directed Voting Program relief is modeled after the no-action relief granted to ExxonMobil. The program allows shareholders to give standing, revocable voting instructions for votes to be cast in favor of proposals approved by all of the fund’s independent directors.

October 8, 2026 MFDF Webinar: AI in Fund Audits - What Directors Need to Know

This webinar designed specifically for audit committees of RIC boards, KPMG will discuss what audit committees should consider when carrying out their oversight responsibilities as it relates to AI, with specific focus on the services provided by the independent auditor and the impact AI is having on the audit process.

October 7, 2026 MFDF Publishes “Toolkits” for Fund Boards with Tactics for Recruitment and Onboarding

The Board Recruitment Toolkit offers guidance and approaches for the early stages of a board’s recruitment process, including designing the process itself, establishing search criteria, options for finding candidates, and related considerations on timing. The Onboarding New Directors Toolkit offers a broad menu of possible tactics that boards may consider deploying in the process of integrating newly hired directors into the boardroom.

October 6, 2026 Event of Interest: ACA Hosts Webinar on Minimizing Cybersecurity Risk

ACA cybersecurity experts will share practical considerations for configuring AI tools in a way that supports business use while reducing unnecessary exposure.

Upcoming Events

Full calendar

October 15, 2026
In Focus - Board Oversight Approaches to AI and Risk Management
MFDF is pleased to partner with Willkie to offer a 3-part In Focus series on Board Oversight and Usage of AI, a confidential virtual discussion specifically designed for current RIC independent directors and CCOs. This second discussion will focus on board oversight approaches for AI as part of independent directors' risk oversight duties. This virtual session will be on Zoom from 11:00 AM to 12:00 PM (ET). Spaces are limited.
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October 19, 2026
MFDF Policy Development Town Hall (Higher AUM Members)
In October 2026, MFDF will host town hall meetings with member independent directors to discuss policy goals and objectives for MFDF's advocacy efforts with the SEC. Higher AUM members will meet on October 19th.
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October 19, 2026
MFDF No-Action Relief for Directed Voting Programs Decoded: What This Relief Means for Funds and Fund Directors
Join MFDF and Ropes & Gray for a deep dive on the no-action letter that the SEC’s Office of Chief Counsel, Division of Investment Management, issued to MFDF covering a “Directed Voting Program” under which fund shareholders may give standing instructions to vote with the board’s recommendation. The webinar will broadcast live from 2 pm - 3 pm (ET).
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Newest Resources

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October 14, 2026

Webinar Archive: AI in Fund Audits: What Directors Need to Know

As part of MFDF's AI for Fund Boards webinar series, KPMG will provide practical guidance on how audit committees of RICs should consider in their oversight responsibilities regarding the use of AI in fund audits. This webinar originally aired on October 13, 2026.
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September 18, 2026

Webinar Archive: How the SPIVA U.S. Scorecard Understates the Performance of Actively Managed Mutual Funds - What Directors Should Know

IAA President & CEO Karen Barr will moderate a webinar from a new academic study "How the SPIVA U.S. Scorecard Understates the Performance of Actively Managed Mutual Funds" conducted by K.J. Martijn Cremers, Jon Fulkerson, and Timothy B. Riley. This webinar originally aired on September 17, 2026.
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September 15, 2026

Webinar Archive: Intermediary Fees: What Today’s Trends Mean for Independent Directors

Barrington Partners shares key insights from its latest Intermediary Fee Survey to help independent directors understand how current market trends may inform effective fee oversight. This webinar originally aired on September 14, 2026.
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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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