FBC Composition Database

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LONDON, 5th DECEMBER, 2022: Fund Boards Council has analysed data covering the boards of 0ver 80 UK authorised fund managers, which includes almost 500 board directors, of which over 200 are non-executive, to develop the FBC Board Composition Database. Believed to be the first of its kind in the UK funds industry, the FBC Database will provide valuable insights and industry data points to fund boards considering the make-up of their own fund boards and inform directors’ decision-making on key fund governance topics.

The first iteration of the FBC Database, which will be updated regularly to provide the latest insights into the make-up of UK fund boards, includes key statistics such as:

  1. Non-executive directors make up 41% of UK fund boards
  2. Female directors (executive and non-executive) make up 31% of UK fund boards
  3. Female non-executive directors account for 38% of UK fund boards
  4. Non-UK residents account for 8% of UK fund board directors
  5. The majority (64%) of UK boards have between 4 and 6 directors


The importance, visibility and primacy of fund boards in the UK (also referred to as Authorised Corporate Directors) has grown substantially in the last three years. This has been on the back of the Financial Conduct Authority’s 2019 Asset Management Market Study requiring the publication of the annual Assessment of Value report by fund boards as well as ensuring greater independent governance oversight. The purpose and effectiveness of fund boards is now an established and ongoing focal point for the regulator.

Commenting FBC CEO Shiv Taneja said: “There are several important fund governance trends at play in the UK ACD marketplace, and the FBC Database will help inform fund boards’ decision-making across a number of these areas.”

FBC managing director, Catherine Battershill remarked: “With a growing burden of governance responsibilities on fund boards, chairs and CEOs are having to address a range of issues from ensuring the optimal balance of executive versus non-executive directors, to board diversity, ensuring the appropriate skills on the board, and on occasion needing to add or replace non-executive directors.”

The November cut of the FBC Database and more information about how fund boards can access insights from the FBC Database can found here.

About Fund Boards Council 

Fund Boards Council (FBC) is an expert led, independent organisation wholly dedicated to supporting fund boards, including the individuals and teams crucial to their success, to achieve good practice fund governance in the UK and cross-border.  

With the increasing regulatory scrutiny, individual accountability and the ‘primacy’ of fund boards expected by the regulatory bodies, the need to continuously be able to demonstrate good governance, and its impact in providing value to customers, is ever pressing. 

FBC counts the majority of the 25 largest UK and multinational wholesale asset managers as its corporate members. Through thought-leadership, practical insights on vital topics, collaboration, training and consultancy, we support and bring together our members, and other senior executives, in delivering robust fund governance. 

For more details of FBC’s membership, iNED recruitment, training and consultancy go to www.fundboards.org

For more information, please contact:

Suzanne Withers

Head of Marketing & Member Engagement