The Independent Directors Council (IDC) represents independent directors and trustees who serve on the boards of mutual funds, closed-end funds, exchange-traded funds and other registered investment companies. IDC’s activities and advocacy promote excellence in fund governance for the benefit of shareholders. IDC’s core mission is to:
- Deliver education and programming to enhance the effectiveness of independent directors in service to fund shareholders;
- Foster community and engagement among independent directors, including through peer-to-peer exchange and learning;
- Advocate for public policies from the independent director perspective in support of fund shareholders; and
- Promote public understanding of the vital role and responsibilities of independent directors and the operations of fund boards.
In 1995, the Investment Company Institute (ICI) created a committee that focused primarily on education issues for directors. As interest in fund governance grew, ICI recognized the need for an office dedicated to serving independent directors—and launched IDC in 2004.
IDC supports investment company independent directors in fulfilling their responsibilities to represent the interests of fund shareholders. It promotes the highest standards of fund governance for the benefit and protection of fund shareholders. And it keeps fund directors informed about issues that affect their ability to fulfill their responsibilities while adapting to the rapidly changing financial services landscape.
IDC’s education programs and activities include:
- An annual fund directors’ conference, the premier event for fund directors
- Webinars on topics of current interest to fund directors
- Publications on fund board oversight practices
- Newsletters—updates for fund directors
- Directors’ chapter meetings and virtual roundtables—informal meetings held in regions across the country
- ICI Daily—a daily email of top fund industry news stories that includes IDC’s memoranda to directors about regulatory and industry developments
IDC also communicates the perspective of fund independent directors to policymakers—including Congress and the Securities and Exchange Commission—and promotes public understanding of the role and responsibilities of fund directors through ongoing communications with the media, regulators, and legislators.
A Governing Council composed of fund independent directors leads IDC’s activities, with support from dedicated staff. IDC also has access to ICI’s resources and expertise, including research and data.
IDC welcomes the participation and contributions of all fund independent directors.
IDC Governing Council
Thomas T. Kim
Independent Directors Council