Why Investors Should Demand More from Fund Directors

No doubt you are more than conversant with the names of the portfolio managers running your mutual funds -- and their track records, backgrounds, investment philosophies and so on.

Now quick! Name an independent director -- just one -- of any of your funds. Go on, take a minute.

Chances are, even if I gave you an hour, you'd come up blank. What was the last time you called up your fund's director and gave him or her an earful? Who, in fact, ever even thinks about fund directors? Who the heck are these guys and why should we care? ...