FBC Insight – A Quarterly Newsletter for Investment Governance

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Q3 2021

Experimental Pains: FBC assesses FCA’s report on AoV

Not in a long time has the UK fund industry had to contend with a significant regulatory intervention with the minimum of prescription, requiring fund boards to dig deep for answers beyond just being compliant, but about feeling their way around a new set of governance standards. FBC takes stock two years into this quite unique governance experiment.

Read the full report here.

FBC’s AoV Report Bank

The only resource of its kind, FBC has built a searchable research bank of AoV reports, now in its second year.

Accessible to all FBC corporate members, the AoV Report Bank is an invaluable research tool for executives and board directors alike.

Video Discussion: FBC introduces Assessment of Value Assurance Review (AoVAR)

Part of FBC’s Board Advisory Services, the AoVAR is a ‘drains-up’ review of the AoV process from the standpoint of the fund board as well as the executives charged with the responsibility of delivering it to the board.

The AoVAR and the resultant report is based on a detailed analysis of board minutes, other management information input and in-depth interviews with board directors and executives.

This advisory service is available to both FBC corporate members and non-members.


Introducing FBC’s new Board Effectiveness programme

What does it take to be a high-performing fund board and how do board directors get assurance they are operating as effectively as possible?

These are just a couple of the questions FBC will be tackling in the coming months as part of its new series of Board Effectiveness events.

Find out more about FBC’s Board Effectiveness Programme and how FBC corporate members can get involved in our video.

In Conversation with SJP’s Rob Gardner

“For those who have read Simon Sinek’s ‘The Infinite Game’ will know the asset management industry is not playing the infinite game. Take for instance, the levels of indebtedness –they’ve never been higher in the UK. Also, 50% of all mental health issues in the UK are to do with like some kind of financial indebtedness.”

Rob Gardner photo Entrepreneur, financial activist, children’s book author and investment industry maven, Robert ‘Rob’ Gardner wears his heart on his sleeve when it comes to talking about the role of asset management in wider society.

In a high-energy interview with FBC, Mr Gardner, who is the CEO of St James’s Place’s unit trust board also shares his thoughts on the AoV process, and investment governance more generally.

Read the full interview here.


The Latest Fund Governance News

At FBC, we regularly monitor the financial and trade press to bring you the most important industry stories.

Click through to our blog to read the latest news relevant to fund boards.


The Autumn / Winter Calendar

Digital Meeting – Responsible Investing: What can and should UK fund boards be doing to address RI?

16th November 2021 – 2 to 3pm

This first in a series of FBC meetings on the topic will address the basic question of the role and responsibilities of fund boards and senior executives when it comes to Responsible Investing, defined by UN Principles for Responsible Investing (PRI) as “the strategy and practice of incorporating environmental, social and governance (ESG) factors in investment decisions and active ownership.”

For FBC corporate members only. Click here to register for the meeting.

Digital Meeting – Board Effectiveness: Defining the key characteristics of an effective fund board

28th October 2021 – 1 to 2pm

In this highly practical session a panel of subject matter experts will explore the benchmarks and criteria that fund boards and their directors are using to measure success of their fund boards. Attendees at this inaugural Board Effectiveness meeting will come away with a clear understanding of practical considerations to take back to their own boards.

For FBC corporate members only. Click here to register for the meeting.

Digital Meeting – FBC iNED Council Meeting

2nd December 2021 – 2 to 3pm

The FCA’s July AoV review called out the role of the iNEDs on fund boards. While it commended those who were doing a good job, it suggested many weren’t. At this biannual meeting of FBC corporate member iNEDs, and invited guests, a panel of experts will discuss the role of the fund boards iNED; not just in relation to the all-important AoV process, but also to answer a series of other questions.

By Invitation: For FBC corporate member iNEDs and invited guests. Details to follow.