September 28, 1995
TO: BOARD OF GOVERNORS No. 65-95
INVESTMENT COMPANY DIRECTORS No. 5-95
MEMBERS - ONE PER COMPLEX No. 82-95
RE: Institute’s Introductory Guide for Investment Company
Directors
______________________________________________________________________________
The Investment Company Institute is pleased to present its Introductory Guide for Investment
Company Directors. The Guide is part of the Institutes expanded effort to provide programs and
services that assist investment company directors in fulfilling their important obligations to fund
shareholders.
The Guide provides an introduction to the responsibilities of fund directors under the Investment
Company Act of 1940, and also summarizes the obligations imposed on fund directors under other
federal securities statutes and state law. The Guide was developed with the assistance of David C.
Mahaffey of Gibson, Dunn & Crutcher and other of the Institutes outside counsel who regularly advise
mutual fund boards.
The Guide is provided free of charge to directors, officers, partners and employees of Institute
members and associate members. Additional copies for members and associate members may be
obtained by contacting Paula Kitendaugh, Information Services Coordinator, at 202/326-8305.
Nonmembers may order the Guide for $50 per copy.
Matthew P. Fink
President
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