Board of directors
Investment companies have a board of directors whose duty it is to govern the company to secure the best possible return for shareholders within the framework set out in the company’s Articles of Association – in other words, to look after the interests of the investor.
Your board of five experienced independent non-executive directors meets six times a year on a formal basis, and on an ad-hoc basis when required, to consider the company’s strategy and monitor the company’s performance. The directors are directly answerable to the shareholders.
An investment trust board formally evaluates its manager every year, reporting to shareholders why it is appropriate for the manager to continue managing the company. Your board takes this job extremely seriously and provides an important counterweight to the range of behavioural biases that can impair a portfolio manager’s decision-making.
Your board also serves shareholders by ensuring that the interests of the manager are aligned as closely as possible with those of shareholders.