This excerpt taken from the EFA DEF 14A filed May 24, 2005.
What is the Role of the Board?
The Board has responsibility for the overall management and operations of the Trust and the Company, including general supervision of the duties performed by BGFA and other service providers. The Board also appoints the officers of the Trust and the Company. The officers are responsible for supervising and administering the day-to-day operations of the Trust and the Company. The Board held five meetings during the calendar year ended December 31, 2004. Each Board member then in office attended at least 75% of the Board meetings held during this period.