Purpose matters: Raising awareness of the role of the fund board – 21 June 2022

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Purpose matters: Raising awareness of the role of the fund board
FBC Discussion Group

Digital Meeting: 1-2pm, 21 June 2022 

Join us at 1pm on Tuesday 21st June for an FBC Digital Meeting in which we explore the role and purpose of fund boards, how well they are defined and articulated within asset management firms, why it matters to the work of board directors and the steps organisations are taking to enhance understanding of the aims of this important governance entity.

Fund boards are now an established feature in firms’ investment governance frameworks and, ostensibly, their overarching purpose is clear – to ensure that investors’ interests are represented at a senior level in asset management firms.

Yet, the range of areas overseen by fund board directors is evolving, extending beyond the delivery of Assessment of Value to encompass wider oversight responsibilities, including internal and third-party service provider monitoring, ESG and operational resilience, to name but a few. In this session, we’ll explore the implications of that evolving purpose, how well understood the role of the fund board is in the wider organisation and how that impacts on the work of board directors.

Drawing on initial findings from the first study in FBC’s new Fund Board Effectiveness Barometer series, in this meeting you’ll gain insights into:

  • how asset management firms are defining the purpose and key aims of their fund boards
  • the extent to which directors feel the role of the fund board is clearly understood more widely in the organisations and the impact this has on their board work
  • the steps firms are taking to raise awareness of the role of the fund board internally

Joining us to discuss this important topic in more detail will be Marc Teasdale, a Managing Director in Allen & Overy’s strategic and regulatory consulting practice, and former Director of Wholesale Supervision at the FCA. We’ll also be drawing on the insights and expertise of Rachel Treece, CEO of the FTS Global and The Henka Institute, an experienced executive coach who has worked closely with executive and non-executive directors across a wide range of financial services boards.

If you would like to submit a question, or some comment, to the discussion in advance, please email swithers@fundboards.org. Submitted questions and comments will be introduced into the discussion anonymously unless participants wish to raise a question in person during the discussion forum.

About the FBC Fund board effectiveness barometer 

The FBC fund board effectiveness barometer is a series of in-depth surveys and focus groups designed to provide a valuable source of peer insight into the key aspects of fund board effectiveness. Over the course of the year, we will be examining topics including Fund Board Purpose, Culture and Behaviours, Structure and Composition, Board Process and Assurance and Monitoring. These surveys will canvass views from executive and independent directors in the UK and across Europe, drawing on their experiences at the sharp end of fund board governance to explore examples of good practice in the industry. The survey results, ‘the barometer’, and accompanying analysis, will be available to FBC corporate members in a series of member meetings and detailed reports, as part of the corporate membership of FBC



This discussion forum is open to FBC corporate members only. Please click here if you are a corporate member and would like to register, or get in touch if you are not yet a corporate member and have a particular interest in this topic.