Boards: more transparency & standardisation please

The NED’s research into fund boards shows an extraordinary variance in standards – including from funds in the same asset class and jurisdiction. Some funds take director selection seriously. But there are others that appear not to.

One is led to the conclusion that those that have invested time and effort, as well as the money, in putting together a good board want to tell people about. And those haven’t try to hide it. Funds that have made the effort with their board selection appear to want to make it easy for those accessing their websites (and/or annual accounts) to find details on the individuals that serve on the board. And generally, there isn’t any difficulty in determining who is serving on the board as an independent. However, NED researchers have come across a number of situations where it is not clear that a NED also works for an organisation that is also a service provider to the fund.

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