Developments in fund governance
Caroline Hoare, Director, IPAF (UK) Ltd
John McCann, CEO, Trinity Fund Administration
Bill Prew, CEO, INDOS Financial
Bill Prew: We are going to start by looking at developments in the fund governance arena. Governance has changed a lot over the last five years. Caroline, could you explain where you see the industry now and how things have evolved over the last few years?
Caroline Hoare: I'd say it's a tale of two parts. Undoubtedly many funds now take the issue of governance very seriously. We often find that when people are forming their boards the consultation process might involve up to 20 different people. But I do still get calls from people saying they've been offered a “buy-one, get-one-free” offer; those conversations tend to be extremely short!
BP: Most people recognise that progress has been made and there are boards that are particularly well run. Why do you think there are still boards that aren't run particularly well?