Our professional directors have significant fund experience covering, accounting, auditing, fiduciary services, British Virgin Islands and Cayman regulations and risk management.
Harneys’ professional directors exercise independent judgment and act in the best interest of the fund, taking the interest of the investors as a whole while supporting the investment manager. They also oversee and supervise the activities and affairs of the fund to ensure compliance with the defined investment strategy, applicable laws and regulations.
We pride ourselves on our responsive, efficient and value-added service. Some of the typical tasks covered by our professional independent directors include, but are not limited to:
- Ensuring that at least two board meetings are held a year for the larger and more active funds and all Cayman registered funds (one board meeting in the case of a small and less active fund) in line with best corporate governance practices;
- Reviewing net asset value calculations, audited financial statements, the fund’s constitutional and offering documents together with any side letters and investor letters in advance of board meetings;
- Liaising with the fund’s regulator in the BVI or Cayman, for example, notifying the regulatory body of any significant changes to the fund;
- Reviewing the performance of each service provider to whom the board of directors has delegated a function to ensure that they are performing their functions in accordance with the terms of their respective contracts;
- Reviewing the fund’s investment activities to check compliance with the offering memorandum’s investment parameters and applicable laws and regulations;
- Providing suitable oversight of the operational and financial risk management of the fund, in particular ensuring that the fund’s material risks are appropriately managed and mitigated.
- We provide full board support services from liaising to set a date to filing the final board minutes.
We can also conduct a detailed review of the existing corporate governance standards and, if applicable, recommend appropriate remedies and solutions to bring any deficiency up to the recognised standards.