In this day of fund scandals, Should you invite reporters to lunch? That was a question faced by Loomis Sayles, which saw its media luncheon fall amid near-daily reports of fund scandal. Loomis executives answered in the affirmative and the lunch Tuesday went off without a hitch.
Margaret Ellen Clough
, vice president, corporate communications, Loomis Sayles & Company, L.P.
opened the company’s press lunch by saying that it might not have taken place. She laughed about a speech she’d recently heard at an ICI conference called "Why the Media Hates Mutual Funds," but added that there was a truth in the title that gave many pause.
Clough acknowledged that people at Loomis Sayles had questioned the idea of having a press lunch. But she said that the debate was brief and the decision ultimately easy.
Loomis Sayles received requests for information from the SEC, she said, and the company was weathering the regulatory storm "like everyone else." They decided to go forward with the press event because they had been dealing with the scrutiny openly and honestly.
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