director

director. Mutual fund directors oversee the management and operations of a fund organized as a corporation and have a fiduciary duty to represent the interests of shareholders. Because a fund has no employees, it relies on the adviser and other service providers to run the fund’s day-to-day operations. Directors focus on the performance and fees of these entities under their respective contracts, and monitors potential conflicts of interest. Fund directors have the same responsibilities as fund trustees. See also independent director and trustee.