Friday, October 21, 2016

Third Independent Monitor Interim Report With Exhibits

As the Court is well aware, there has been significant discussion over the last six months regarding the Court’s interest in the Trustees’ solicitation of outside auditors to evaluate whether its current financial advisors’ methodologies are consistent with, if not surpassing, typical market practices. After much back-and-forth between the Court and counsel for the Funds, I am genuinely confident that the Trustees will devise an outside review that will satisfy the Court, and that the Funds can engage in such an inquiry without fear that whatever recommendations are made will be binding on them. I expect in the coming weeks that the Co-Chairs of the Trustees, Funds counsel, and I will meet with the Court to further discuss this project.



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