We offer an independent service as INEDs for international offshore funds and asset management companies. We have experience of serving on the boards of companies domiciled in the UK, the Cayman Islands, Dubai (DIFC), Switzerland, Singapore, Hong Kong, South Africa and the Channel Islands.
Offshore funds which are established as corporate entities are controlled by a board of directors. A fund board frequently includes:
Representatives of the fund promoter or investment manager
Representatives of the service providers
The fund’s external legal counsel
An independent director
However, in practice, the promotor/investment manager “have called the shots“ and other board representatives have simply paid lip service. This process must change and is changing.
The role of the INED has traditionally involved attending board meetings. However, Investors and other stakeholders now expect funds boards to feature experienced INEDs, who should provide strategic guidance together with experienced, intelligent advice. Regulatory requirements facing funds in many jurisdictions require a much more active hands-on approach from INEDs.