Best practice guiding principles for Independent Directors
ICG is dedicated to the implementation of industry best practice in the provision of independent director services. Amidst the mounting regulatory environment, the presence of professional non-executive independent directors on the board of offshore funds is a prerequisite for a growing number of investors and stakeholders. Independent directors need to have relevant industry experience, full awareness of their duties, and the capacity to fulfil their fiduciary obligations. Directors provided by ICG meet these criteria. They carry out appropriate oversight of the activities of hedge funds and offshore companies and their relevant service providers.
This includes:
  • • Independent analysis of key decisions to ensure fair treatment of all investors
  • • Reviewing and monitoring investment performance on a regular basis
  • • Regular monitoring of adherence to investment policy and restrictions
  • • Ensuring an appropriate valuation policy is established with delegated responsibilities clearly identified, and         monitoring adherence to the policy by the delegated parties
  • • Seeking to avoid conflicts of interest, or, where these exist, ensuring they are disclosed and handled correctly
  • • Ensuring full disclosure of relevant material in public documents to meet legal and regulatory requirements
  • • Monitoring investor reporting
  • • Ensuring that the interests of stakeholders in the company are protected in accordance with all regulatory and     legal requirements
  • • Ensuring appropriate AML and compliance procedures are in place and reviewing adherence to the procedures
  • • Ensuring compliance with any stock exchange listing requirements
  • • Review and approval of audited financial statements
ICG seeks to ensure regular board meetings are held. At these meetings, the directors receive and review reports from the investment manager, administrator and other service providers.
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