The effect of governance mechanism and structure on fees and performance of Mutual Funds in Canada

Taking advantage of the unique Canadian setting, this study empirically analyzes the impact of presence of the board of directors, as an internal governance mechanism, on fees and performance of mutual funds. Further, the impact of the board structure on fees and performance of corporate class funds is analyzed. We find that corporate class funds, which have a separate board of directors for the fund, charge higher fees; however, they also provide superior performance than trust funds. Furthermore, we find that for corporate class funds, smaller board, with higher percentage of independent directors, and with the fund CEO acting as the chairman of the board is likely to charge lower fees. Also, more independent boards are strongly associated with superior fee-adjusted performance.

Barnes Wines, Limited By-Law No. 78

The summary of the By-Law reads: "A By-Law to authorize the setting aside of certain monies annually out of the net profits of the Company before payment of dominion and provincial income taxes and provincial corporation tax to be paid to a trustee for distribution to the employees and officers of the Company and to authorize the execution of an agreement with a trustee to effect such purpose."

Directors Meeting November 28, 1896 and By-Law No. 14 & 15

The meeting included an election of officers which resulted as follows: John Reid, President; Geo Barnes, Vice President; Geo. Barnes, Man-Director; J. Evans, Secretary. There are also two more by-laws (14 and 15) signed by both G. Barnes and J. Evans.

Captain Lewis Warrington and others : memorial of Lewis Warrington, Captain in the U.S. Navy, (in behalf of himself and the officers and crew of the U.S. sloop-of-war Peacock); praying that the one half of the proceeds of the Epervier and goods which went into the officers and crew of said vessel, it having been decreed to them by the United States court as captors. April 26, 1848.--

Caption title.

District general orders of Maj.-Gen. Sir Isaac Brock from June 27th, 1812-Oct. 16th, 1812 [and] instructions sent to officers commanding forts / by Maj.-Gen. Brock shortly before the attack on Queenston. --

"Certain of these orders ... have been printed in Col. E. Cruikshank's Documentary history of Niagara." Created on behalf of the Women's Canadian Historical Society of Toronto

Persons who served more than six months in the War of 1812 : letter from the Secretary of War, transmitting in compliance with a resolution of the House calling for a statement of the number of officers, non-commissioned officers, privates, &c., who served for a period of six months and upwards in the War of 1812.--

Caption title.

Proceedings of the Court Martial, held on the officers and crew of His Majesty's late ship, the Java. --

Ordered to be printed 10th May 1813.

Notice to Half Pay Officers and Out Pensioners of Chelsea and Kilmainham Hospitals- 1821

Discusses the half pay and pensions of Officers living within His Majesty's Dominions. At the bottom, there is also a comment made by Robert Morrogh to Daniel Shannon concerning the above notice.

Proceedings of the Court Martial, held on the officers and crew of His Majesty's late ship, the Java.

Ordered to be printed 10th May 1813.

Minutes of the Board of Directors of the Port Hope, Lindsay and Beaverton Railway Company held in Port Hope

Minutes of the Board of Directors of the Port Hope, Lindsay and Beaverton Railway Company held in Port Hope, Aug 9, 1855.

Letter to S.D. Woodruff regarding a resolution passed on May 17, 1856 by the Board of Directors of the Port Robinson and Thorold Macadamized Road Committee

Letter to S.D. Woodruff regarding a resolution passed on May 17, 1856 by the Board of Directors of the Port Robinson and Thorold Macadamized Road Committee This is signed by Duncan McFarland, president, May 27, 1856.

Letter to S.D. Woodruff regarding resolution #5 of the Board of Directors. Mr. Woodruff is requested to take steps to ensure the early completion of the Port Dalhousie and Thorold macadamized road

Letter to S.D. Woodruff regarding resolution #5 of the Board of Directors. Mr. Woodruff is requested to take steps to ensure the early completion of the Port Dalhousie and Thorold macadamized road. This is signed by James McCoppen, president. The letter is stained and worn torn in spots. This does not affect the text, July 11, 1857.

Letter from S.D. Woodruff to the president and directors of the Port Robinson and Thorold Macadamized Road Committee regarding extra work done

Letter from S.D. Woodruff to the president and directors of the Port Robinson and Thorold Macadamized Road Committee regarding extra work done (3 pages, handwritten), Aug. 6, 1857.