Board of Trustees
The Board of Trustees’ role is one of oversight rather than day-to-day management of the Funds. The Audit Committee assists with this oversight function. The Board of Trustees’ oversight extends to the Fund’s risk management processes. Those processes are overseen by officers, including the President and Treasurer, Secretary and Chief Compliance Officer, who regularly report to the Board of Trustees on a variety of matters at Board meetings.
The Board of Trustees is currently comprised of three Independent Trustees – Mr. Philip J. Kennedy, Ms. Rachel F. Lupardus, and Mr. Jeffrey D. Yowell – and one Interested Trustee – Ms. Laura Symon Browne. Ms. Symon Browne is an interested person of the Trust by virtue of the fact that she is an employee and stockholder of the Advisor. The Trust has appointed Mr. Yowell as Chairman.
The Board of Trustees has established three standing committees – the Audit Committee, the Marketing and Distribution Committee, and the Nominating Committee. All Independent Trustees are members of the Audit Committee and the Nominating Committee. Inclusion of all Independent Trustees as members of the Audit Committee and the Nominating Committee allows all such Trustees to participate in the full range of the Board of Trustees’ oversight duties, including oversight of risk management processes. In accordance with the fund governance standards prescribed by the SEC under the 1940 Act, the Independent Trustees on the Nominating Committee select and nominate all candidates for Independent Trustee positions. The Marketing and Distribution Committee consists of one Independent Trustee and one Interested Trustee.
Each Trustee was appointed to serve on the Board of Trustees because of his or her experience, qualifications, attributes and/or skills. The Board of Trustees reviews its leadership structure regularly. The Board of Trustees believes its leadership structure is appropriate and effective in light of the size of the Trust, the nature of its business, and industry practices.
Recent Buffalo Funds News
Learn from the top thought leaders in the industry.
The market currently expects at least two more Federal Funds rate hikes in early 2023 and a high of 5-5.25%. The tight labor market could give the Fed a chance to successfully engineer a soft economic landing, allowing consumers to keep spending at reasonable levels while absorbing higher interest costs.
John Kornitzer, Buffalo Flexible Income Fund portfolio manager, was recently interviewed by Investor’s Business Daily where he discusses industry trends that help identify opportunities with the potential for market outperformance.
The old adage is still true that past performance is no guarantee of future results, but we can still learn lessons from past bull and bear markets and apply them to our current investment decision making.