What difference has CP86 made?

In follow-up to the CBI’s thematic review of CP86 a look at the difference this measure has made to Irish fund board appointments.

Changes might be coming to fund board composition in Ireland. The CBI is clearly focused on this topic. There are two areas where the regulator looks to be particularly interested: what some call ‘over-boarding’ (directors who sit on too many fund boards) and lack of gender diversity.

The CBI’s ICAV register reveals that a number of Irish fund directors have a surprisingly large number of manager relationships and some sit on the boards of a lot of funds, or sub funds, as The NED has covered before. For example, in the autumn of 2019, the register showed that 16 local INEDs sit on the boards of 959 Irish domiciled funds, or sub funds.

For more on this story see the December issue of The NED.