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  Friday November 24, 2017

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THE BOARD OF DIRECTORS
Learn even more about this topic with the Encyclopedia of Personal Finance™

Each mutual fund has a board of directors. The board retains a management company to manage the fund. It chooses an underwriter, or distributor, to distribute shares. The board also chooses a custodian to perform bookkeeping and clerical tasks.

The members of the board must sign the investment advisory agreement, which must be approved by the shareholders. The investment advisory agreement is a contract between the fund and the investment advisor.

The shareholders of the fund elect the board of directors at the annual meeting. Each shareholder receives a proxy ballot by mail to use to cast his or her votes.

Now we come to what you as an investor can do for your fund.




LEARN EVEN MORE WITH THE ENCYCLOPEDIA OF PERSONAL FINANCE. CLICK HERE!

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