UK fund governance changes: trouble ahead?

There are going to be an awful lot of changes to the governance of UK asset management groups over the coming months. 2019 could well turn out to be a tumultuous year.

What is about to happen may well spread from the UK’s 190 AFMs (Authorised Fund Managers) onto the alternative side of the industry. The FCA has said that the disclosure of costs and charges by alternative asset managers – principally hedge funds and private equity managers – is ‘particularly opaque’. Lack of disclosure and charges were the principal reasons that the FCA has brought in its new independent director rules for AFMs.

UK asset managers are required to have at least two independent directors on their boards by September 30. Who is being selected? And what will they achieve?

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