Fund board governance is becoming increasingly complex for Authorised Fund Managers as they seek to implement the requirements from the Asset Management Market Study (AMMS). Not only are there the complexities of the annual production of Assessment of Value statements to navigate but fund managers are also going to have to recruit, train and retain high calibre independent Non-Executive Directors (iNEDs) on their boards. In some cases, these iNEDs will be joining newly established boards and so developing and then maintaining a strong and cohesive board culture becomes key to ongoing good governance. This is no mean feat.
“Mutual fund boards have a lot to contend with as a result of the Asset Management Market Study. Not only do many boards now need to find at least 2 independent Non-Executive Directors (iNEDS) but they are also tasked with overseeing the introduction of Assessment of Value statements for their boards and customers. Time is limited and regulatory scrutiny on these areas is here to stay, yet for many Authorised Fund Managers (AFMs), these are going to be complex initiatives to implement. UK Fund Boards is here to help with regular industry insight, advice and best practice-sharing opportunities. If you’d like to find out more about how we help AFMs, please get in touch.”
Martyn is the UK country manager at Franklin Templeton Investments and non-independent chair of two Franklin Templeton fund boards. He is also a non-executive director of Edinburgh Partners Ltd.
UK Fund Boards met up with him to find out what he thinks authorised fund managers will be looking for in the iNEDs they hire and how they can reconcile the need for both diversity of experience and specific industry expertise. He also discusses how prepared the industry is ahead of the introduction of Assessment of Value statements in September 2019.
About Martyn Gilbey
Martyn has spent almost 20 years in senior distribution roles in the asset management industry in Europe and Asia. Following seven years at Insight Investment in London, he headed up distribution for Mirae Asset Global Investments in Asia and EMEA before moving to Aberdeen Standard (formerly Aberdeen Asset Management) where he was latterly Head of Client Management. He is now UK Country Manager at Franklin Templeton Investments, providing the strategy, leadership and management of FTI’s UK business operations.