In Fund Directions, Investment Management Partner George Raine Discusses Prior Experience as a Requisite for Mutual Fund Boards

Prior experience serving on a board of directors, even if not for a mutual fund, is something many mutual fund nominating and governance committees consider when recruiting independent directors, stated an Aug. 14 article Fund Directions titled “Nom and gov committees weigh prior board experience.”

The article includes remarks from investment management partner George Raine, who cautioned against making previous board service an official requirement in the piece. “It certainly doesn’t hurt,” according to Mr. Raine. “The fact someone’s been on another mutual fund board might speak to them knowing the industry, but not their ability to bring to bear any special expertise or perspective. Often [nominating and governance committees are] really focused more on what special characteristic, perspective or expertise a new trustee will bring to the table,” Mr. Raine adds.