A discussion on our latest report Sustainable investment – navigating the challenges for fund governance
Assets under management in sustainable investment funds have quadrupled in just 3 years, accompanied by a swathe of new regulations and approaches to sustainable investing, with variations in definitions and disclosure requirements. In this rapidly evolving environment, fund board directors are grappling with:
- An increasing level of regulation and how to mitigate greenwashing risks.
- A lack of clarity from regulators on their expectations of fund board oversight responsibilities in relation to sustainable investments.
- Ensuring sufficient expertise in sustainable investing is available for robust fund oversight.
In our digital meeting on Thursday 13 October at 2:30pm BST, we discuss findings from a new report which examines the impact of this rapid evolution on fund boards. Commissioned by the First Sentier MUFG Sustainable Investment Institute in partnership with the FBC, we’ll discuss the challenges faced by fund boards and how to strengthen their expertise and governance to maintain investor confidence.
Contributors
Head of First Sentier MUFG Sustainable Investment Institute
Velina Karadzhova joined First Sentier Investors in September 2021 to lead the First Sentier MUFG Sustainable Investment Institute and deliver its sustainable investment research programme. The research looks at how emerging sustainability and market trends and practices could affect the performance of investments and economies, and how these developments influence capital allocation by investors.
Velina was previously an ESG analyst and sector lead for utilities at MSCI. In this role, she developed methodology enhancements and new products in areas such as ESG ratings, screening, impact, regulatory reporting, and data. She was also responsible for sector and company research, and ESG ratings for the utilities sector.
Prior to that, Velina was a credit rating analyst for EMEA utilities at Moody’s. She was also formerly a senior associate in audit at PwC.
Velina gained a BA (Hons) with first class honours in International Finance and Trade at the University of Portsmouth and an MSc in Accounting and Finance at the London School of Economics and Political Science. She is a qualified accountant and has been registered with the ICAEW since 2013.
Senior Adviser & Non-Executive Director – Fund Boards Council
Brandon is a Senior Adviser and non-executive director at FBC and is involved with FBC’s consultancy and thought-leadership work, with a focus on product governance, assessment of value and investment governance, including oversight of sustainable investments.
He is also a qualified actuary and Principal Consultant at NomBon Consulting, a boutique management consultancy focused on helping firms to design, manage and distribute regulated products and advice services which deliver good outcomes for retail customers.
Brandon also chairs the Appointments Committee of the Financial Reporting Council’s Tribunal Panel and has experience as a Non-Executive Director of organisations regulated by the Financial Conduct Authority (FCA), The Pension Regulator (TPR) and the Gibraltar Financial Services Commission (GFSC).
Portfolio iNED and partner in The Directors’ Office
Sheenagh Gordon-Hart is a partner in The Directors’ Office in Luxembourg, serving as an independent director on a number of boards in the asset management sector. She has a particular interest in regulation, governance and distribution. Prior to joining The Directors’ Office, she was Client & Industry Research Executive at J.P. Morgan Investor Services, with responsibility for regulatory strategy advising clients including asset managers, pension funds and insurers on market developments, and regulatory policy impacting their businesses. Prior to joining J.P. Morgan she ran her own investment and distribution consulting business for several years after gaining experience of portfolio management, marketing and product development at Prudential Portfolio Managers, Capel-Cure Myers (ANZ Merchant Bank) and Prolific. She has extensive experience of asset management sectors in Asia, Europe and the US. In addition to serving as an independent director, she is Regulatory Adviser to Radar.
Global Head of Product, First Sentier Investors
Clare Wood is currently Global Head of Product for FSI and sits on the board of directors of certain of FSI’s operating entities and collective investment schemes in EMEA.
Dr Wood joined FSI in August 2018 as Global Head of Investment Assurance and her current role continues to oversee this activity.
Prior to this, Dr Wood was Head of Portfolio Risk Management at Kames Capital in Edinburgh and worked with the Fairfield Greenwich Group and Foundation Capital Strategies, in Bermuda.
Dr Wood has recently acted as Trustee of a hybrid defined benefit / defined contribution pension scheme and of a charity providing residential and day services for adults with learning disabilities.
Dr Wood holds a BSc Hons 1st Class degree in Pure and Applied Mathematics from the University of Sheffield and a Ph.D. from that University’s Department of Automatic Control and Systems Engineering.
Global Head of Responsible Investment, First Sentier Investors
Will Oulton is the Global Head, Responsible Investment at First Sentier Investors (FSI) based in the UK and is responsible for defining and delivering FSI’s responsible investment and stewardship strategy globally. In this role he is tasked with advancing FSI’s understanding of how ESG Factors impact long term investment value. He is also responsible for developing FSI’s thought leadership programs and managing the RI Governance structure for the business.
Previous to this he was the Head of Responsible Investment for Mercer Investments across Europe, the Middle East and Africa, advising institutional asset owners on environmental, social and corporate governance matters. He has nearly 20 years of experience working in sustainable and responsible investment. Before joining Mercer, Will was the Director of Responsible Investment at FTSE Group, where he led the development of FTSE’s global sustainability services.
In December 2015 he was appointed Chairman of the European Sustainable Investment Forum (Eurosif). He is a fellow of the Royal Society of Arts, an Honorary Associate Professor at Nottingham University Business School’s International Centre for Corporate Social Responsibility, Expert Panel Member of the Prince’s Accounting for Sustainability program and sits on a number of investment industry advisory boards and committees. More recently, he became a Trustee Director on the board of the UK’s Marine Conservation Society.
