Asset Management has created a monster, the Star Manager! Beyond the specific headlines and issues, Woodford poses a broader question of the industry’s value to society; wealth creation, the economy, social equality and even environment. The debacle questions active fund management, fund advocacy and whether fund board governance is actually working on behalf of fundholders, to the very core of what we hold dear as fiduciary, and the agent-principal relationship. Will iNEDs face ‘the pit and the pendulum’ in my Halloween entry?
JB Beckett is an experienced independent director, author of “New Fund Order” and a Fund Boards Council Corporate iNED Member.
In his monthly column, Diary of an iNED, JB records his experiences on the boards of two very different organisations as he navigates the highs and lows of a plural career at a time when the fund industry is beset with challenges and opportunities in equal measure.
JB can be contacted at firstname.lastname@example.org.