Independents: how many are needed?

How much impact can independents make on fund boards if they are not in control of them? The question of the role of independents has come up a lot recently. This happened, in part, because of the FCA’s reforms to the boards of Authorised Fund Managers in the UK.

At The NED’s New York event this April Julian Sluyters, COO of Aegon Asset Management in the US, made the point that ‘40 Act funds now mostly have truly independent boards. The requirement in the US is for just 40% of the board to be independent but he said that almost all funds go well beyond this minimum requirement. 

To read more on this story see the April issue of The NED.

shadow