Use of independents

Fund governance review special
Use of independents by asset managers on their fund boards is a good illustration of how different governance standards are across the industry.

10% of managers analysed to date do not have any independents on their fund boards at all, although one of these has appointed a partner from the law firm that acts for it in the jurisdiction where its funds are domiciled.

Those managers that do have independents on their boards, which is 90% of those so far reviewed, use them in a variety of different ways – and most likely for a variety of different purposes.

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