What is the role of the Independent Review Committee in mutual funds?

The Independent Review Committee (IRC) plays a crucial role in overseeing the management of mutual funds by specifically focusing on identifying and communicating conflicts of interest. This committee is mandated to protect the interests of investors by ensuring that any potential conflicts between the fund management and the interests of the investors are properly identified, addressed, and communicated.

Investors rely on the IRC to provide an independent perspective, especially in situations where fund managers might face conflicts that could compromise their fiduciary duty to investors. By addressing these conflicts, the IRC helps to maintain transparency and trust in the mutual fund industry.

The committee does not engage directly in hiring fund managers, manage investments, or regularly assess fund performance, which distinguishes its specific focus on governance and conflict management within the investment process.