Compliance May 26, 2010

DoL Announces Two More Fiduciary Seminars

The Department of Labor’s Employee Benefits Security Administration has announced two upcoming dates for its “Getting It Right…Know Your Fiduciary Responsibilities” seminar.
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The first is a two-part Webcast on June 9 and 10. On June 9, speakers from the DoL will present information about basic fiduciary responsibilities and prohibited transactions and exemptions under ERISA. On June 10, speakers will present information on the reporting and disclosure provisions of ERISA and the Department’s voluntary correction program. 

Registration for the Webcast is available here. 

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On July 22, the EBSA will hold its seminar in Indianapolis. More information is available here.  

The EBSA said the fiduciary seminars cover:

  • understanding your plan and your responsibilities
  • carefully selecting and monitoring service providers
  • making contributions on time
  • avoiding prohibited transactions
  • making appropriate disclosures to plan participants and filing annual reports to the government on time.

In addition, the EBSA announced it will hold a workshop about the Voluntary Fiduciary Correction Program on July 27 in Detroit. More information is available here.   

Products May 26, 2010

Forward Management Rebrands Accessor Funds

Forward Management, LLC, has announced that Accessor Funds are now the Forward Funds.
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The rebranding of Accessor Funds comes after the June 2008 announcement of the Forward agreement to acquire Seattle-based Accessor Funds (see “Forward Management Picks Up Investment Adviser”). The Accessor Funds expanded Forward’s fund offerings in asset allocation strategies, as well as in alternatives strategies with the Strategic Alternatives Fund and Frontier Markets Fund, which was launched after the acquisition.

Because Accessor was one of the providers of investment strategies to bank trust departments, the acquisition has opened that distribution channel to all Forward Funds.

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In addition, the Accessor acquisition, combined with the acquisition in August of 2008 of the San Francisco-based retail division of Berkeley Capital Management, LLC, established internal asset management capabilities at Forward and further expanded its separately managed accounts operation, the company said.

The Accessor rebranding completes the transition associated with Forward’s merger and acquisition activity begun in 2008, resulting in an expanded family of 32 funds unified under the Forward name, and accounting for more than $5.6 billion in assets under management. Forward said the main goal of its acquisitions was supplementing its core plus satellite fund lineup with alternative strategies, and it now includes seven actively managed alternative strategy funds designed for both retail and institutional investors.

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