Board reviews have long been a feature of good corporate governance but are now increasingly being used to help fund boards to determine their effectiveness and areas for development. A regulatory requirement in some jurisdictions, in others – such as the UK, individual firms have more flexibility to determine how, if at all, they examine their fund boards’ performance.
Which leaves a fundamental question. If there is no regulatory requirement or guidance on how best to do it, how do firms know that their approach is in line with good practice in the industry and what if any distinctions need to be made between the review processes for fund boards compared to their already well-established corporate board reviews?
This is a challenge that Fund Boards Council (FBC) is seeking to help asset managers address with its Fund Board Effectiveness Barometer – part of its Fund Board Effectiveness programme – which examines in detail the approach, frequency and scope of fund board reviews in the UK.
The Barometer is open to FBC member firms, and participants will receive a detailed report, a summary of comparative data, and tailored recommendations.
We will be in touch shortly with member firms who have already taken part and if you would still like to participate and receive the report and comparative data, please contact Senior Research Advisor at FBC, Elizabeth Marsh, at emarsh@fundboards.org