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A revolution ahead?

By coincidence the start of this new decade is also the beginning of what we hope will be the NED’s second centenary of issues. Considerable change is expected to occur, by almost everyone, in fund governance over the coming years. By 2030 fund governance may look very different from today or the decades before.

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Gender diversity by jurisdiction

Just 8% of Luxembourg’s AIFM directors are women. The NED has analysed fund board composition data from Cayman, Guernsey, Ireland, and Jersey and for gender diversity. Given the relative difficulty of getting information on the directors of Luxembourg funds we decided to use the more reliable and comprehensive data available on directors of AIFMs instead.

A total of 1,733 funds and AIFMs were looked at for this purpose. The results are...

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Director ratings and due diligence

The NED is looking to launch a director ratings and due diligence service this spring. Prior to doing so it is inviting subscribers to provide their feedback on what is planned.

The due diligence service could include the following information on prospective independent directors: company ownership, regulatory sanctions, feedback from ex colleagues or other directors and court filings. In order to do this The NED may be teaming up with a firm that has this kind of investigative work in other parts of the financial industry.

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Cayman’s Private Funds Bill

Registration is to be mandatory for Cayman private funds including partnerships, unit trusts and LLCs. With provisions for valuations, fund asset safekeeping, cash monitoring etc the Bill is extremely extensive

The Cayman Islands Government published a Private Funds Bill in early January. Its main feature is the obligation of private or closed ended funds to register with CIMA.

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The governance of Luxembourg’s AIFMs

This year The NED will be reviewing the governance structures of different categories of alternative funds across the international fund domiciles. We start this occasional series in Luxembourg, with a look at the directors of this jurisdiction’s AIFMs.

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