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Director rotation in Ireland

Director rotation, aka term limits, is likely to be introduced in Ireland. Ireland would be the first fund jurisdiction to do it.

The Central Bank of Ireland is consulting with the Irish industry on director rotation. On top of which there have been a number of comments made by its senior officials recently on the importance of diversity on boards and, correspondingly, the avoidance of ‘group think’.
 

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Term limits: long overdue?

If Ireland gets the ball rolling and introduces term limits for directors (aka rotation) should other jurisdictions follow its lead?

Whilst term limits, in and of themselves, probably would not improve fund governance a great deal there would still be more positives than negatives. But if the introduction of term limits was allied to greater transparency in selection procedures and board composition then there really would be a giant leap forward in fund governance standards.

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Alt UCITS: liquidity risk issues

Rumours have been flying around about more liquidity problems at various UCITS funds. Woodford and H2O are the only two managers to have gated funds to date, although there is a third UK based manager that has problems in share classes at one or more of its funds.

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Director ratings

Thanks to those that have contributed to The NED’s director ratings consultation. The first set of results are published this month but the consultation continues. The NED’s ratings will differentiate directors by experience, capacity, degree of independence etc.

If you would like to take part in thsi consultation, contact Simon Osborn at osborn@ifiglobal.com

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Consultant directors on the rise

There’s a developing and relatively new breed of independent director emerging on the scene. This is someone who acts both as an outside advisor to the fund, in one capacity or another, but also has a position on the board as an independent director. These people are in effect consultant directors. The NED is finding out more about this as a result of launching its DirectorSearch facility.

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