Membership

Through its annual major issues conferences, regional seminars, issue meetings, website, newsletters, and other activities, MFDF provides mutual fund independent directors with the tools and information necessary to stay abreast of current topics and issues. MFDF programs and services are designed to enhance the ability of fund independent directors to discharge their fiduciary obligations.

Membership to MFDF is limited to the independent directors of boards of U.S. registered investment companies. MFDF's membership currently includes the independent directors of fund complexes of all sizes. Each member group has a seat on MFDF's Steering Committee, giving members the opportunity to participate on a regular basis in the planning of MFDF activities and the formulation of MFDF policy positions.

MFDF's membership dues schedule is scaled to the amount of assets of each participating group of funds under the management of a common adviser. Payment of the amounts specified in the dues schedule (see below) entitles all of the independent directors in the fund group to membership in MFDF. For independent directors who serve on multiple boards of funds under common management, MFDF suggests that their dues and MFDF related expenses be apportioned among the funds in the complex in a fair and reasonable manner. 

MFDF has received a favorable interpretive letter from the SEC staff agreeing that funds may pay the MFDF related dues and expenses of their independent directors without violating Investment Company Act prohibitions against joint arrangements. Click here to read the No-Action Letter.

To join MFDF, please email us the completed MFDF Membership Application. If you would like more information or need assistance with the application, please contact a member of the MFDF team via email or at 202.507.4488.

Dues Schedule