Fund NEDs
Independent fund directors for first-time managers
Most offshore funds need a board, and investors expect some of its directors to be independent of the manager. Directors based where the fund is based also help show the fund is run from there. We explain what your board needs and introduce independent non-executive directors who suit your fund.
Why independent directors matter
- Investors take more comfort from a board that can challenge the manager.
- Independent oversight of conflicts, valuations and the fund's service providers.
- Local directors help show the fund is managed and controlled where it is based.
- Experience from other funds and sectors that a first-time team may not have yet.
What a fund NED does
- Attends board meetings and takes decisions for the fund, usually each quarter.
- Oversees the manager, the administrator and other providers.
- Approves valuations, the annual accounts and investor reports.
- Makes sure conflicts of interest are identified and handled.
How many local directors you need
It depends where the fund is domiciled. A Guernsey fund, for example, normally needs two directors in Guernsey. The fund administrator will usually provide one, typically for about £6,000 a year.
You only need a second independent director there, typically about £20,000 a year, if your own fund directors would rather not travel for the four board meetings a year. We can tell you what the jurisdiction you are considering expects. See fund setup costs.
How we introduce directors
Tell us about your fund
The structure, the strategy, where it is based and what governance it needs.
We suggest suitable profiles
Independent directors whose background and time fit your fund.
You choose who to meet and appoint
The decision and the appointment terms are yours.
The Fund NEDs directory
We are building a directory of vetted professionals available for independent fund director roles, starting in the Channel Islands, with backgrounds including:
- Real estate and property
- Financial services and fund management
- Law and professional services
- Specialist sectors a fund invests in
Ask about independent director options
Tell us about your fund and the board it needs, and we will suggest directors worth meeting. There is no charge.