S&P, MPI Focus on Fund Governance

October 29, 2001 (PLANSPONSOR.com) - Standard & Poor's and Management Practice Inc (MPI) are collaborating to provide mutual fund directors with reports on better fund governance.

Outside mutual fund directors must annually approve the terms of investment advisory contracts, taking into account the performance and cost of the fund from the perspective of shareholders, the partnership sets out to provide directors with the objective, reliable information they need to make sound decisions.

The joint venture will use Standard & Poor’s analytic expertise and mutual fund database of 60,000 funds to provide comparative performance and expense data.

Standard & Poor’s and MPI will work with fund company independent directors to select a peer group for each fund.