Wed, Mar 29, 2017
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

How can one Independent Director serve 567 hedge funds?

Tuesday, November 22, 2011

amb
Greg Bennett
By Matthias Knab: According to Taxjustice.blogspot.com, a Financial Times investigation on Independent Directors of hedge funds reveals that at least four individuals hold more than 100 non-executive directorships each, and 14 have more than 70 – each worth as much as $30,000 a year. One has been listed as on the boards of 567 Cayman entities, almost all of which are hedge funds.

This issue has also been discussed in detail by the recent Opalesque 2011 Cayman Roundtable. Greg Bennett, a Cayman based professional of The Harbour Trust Co. Ltd. and Independent Director confirmed that the question how many funds can a Director really serve as an Independent Director is the key question being asked by investors and considered by independent Directorship providers: "The reason that it generates such consideration is that there really is no simple answer on the issue. There are a number of reasons for this, including that the time and effort required to discharge one’s obligation varies by structure.

"For example, a Segregated Portfolio Company can have numerous trading portfolios that are effectively each a separate fund, however this would count as a single position if you just counted legal entities. Similarly, someone might be the Director on say 20 funds serviced by a single investment manager - in which case there are many synergies that arise from having a single set of operational controls, service providers and trading strategies. As such, these funds can ......................

To view our full article Click here

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing

 



  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Opalesque Exclusive: FS Investments launches energy fund[more]

    Bailey McCann, Opalesque New York: $19 billion Philadelphia-based FS Investments has launched a new interval fund which will invest in energy. The FS Energy Total Return Fund is the firm's first closed-end interval fund and will invest opportunistically in energy companies and assets. FS

  2. Hedge fund liquidations in 2016 surpass 2009 levels, new launches decline[more]

    Benedicte Gravrand, Opalesque Geneva: Even as the hedge fund industry's total assets exceeded the $3tln milestone last year, hedge fund liquidations increased. So much so that 2016 had the highest number of liquidations since 2008, claims the latest HFR Market Microstructure Report, re

  3. Hedge funds find no joy in macro as returns lag Trump rally[more]

    From Gulfnews.com: In 2017, macro hedge funds were expected to shine. So far? Not so much. It's been a far from impressive first two months for funds that trade around macroeconomic events. Discretionary funds rose just 0.3 per cent through February, according to Hedge Fund Research Inc., while the

  4. Strategies - Billionaire investor Marc Lasry shares how he's playing markets right now, Classic models are failing FX hedge funds desperate for return[more]

    Billionaire investor Marc Lasry shares how he's playing markets right now From CNBC.com: Buy on the prospect of deregulation. Sell on the enactment of deregulation. That's the strategy that billionaire investor Marc Lasry is implementing, according to an interview with CNBC in Las Vegas

  5. Opalesque Exclusive: Aberdeen makes the case for the lower mid-market[more]

    Bailey McCann, Opalesque New York: Aberdeen Asset Management has released a new paper focused on lower mid-market private equity. According to the paper, this segment of the private equity market is gaining popularity with private equity investors that are looking for multiple expansion and less