The NED’s analysis of the composition of the fund boards of many of the world’s leading alternative managers shows that independent directors are often appointed by competitors. Should independents be on the boards of rival funds from different asset managers?

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Fund board diversity should be about an awful lot more than just adding a female director or two. That is a good place to start but it is no more than that. It is close to certain that in the ESG era ahead diversity on boards, as in the workplace, will come to be about more than addressing gender in-balance.

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