Fidelity plans to split the board that oversees its mutual funds in two, according to reports. The plan is to have one board oversee equity-focused funds and another to oversee bond and money-market funds, The Boston Globe reported. Fidelity executives characterized the move as an effort to better oversee complex securities. Fidelity spokesperson Anne Crowley told The Globe that the fund firm plans to seek approvals from investors for the new board posts by early next year.  

Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE