CAYMAN INDEPENDENT DIRECTOR SERVICES
HEDGE FUNDS AND PRIVATE EQUITY
Demand for experienced and professional fund governance and independent fund directors has become the norm for investment funds. Investors and regulators demand that fund and investment companies have a robust corporate fund governance framework to provide over-sight of service providers and ensure that investment managers perform their role in accordance with investment guidelines and to prevent and detect fraudulent activity. At Bell Rock we provide guidelines to managers on implementing best practice corporate governance for funds so they can demonstrate this to investors and local regulators.
Fundamentally, this approach not only enhances a fund offering and its marketability but provides the necessary checks and balances required.
Our independent fund directors act on a variety of funds with different strategies, different types of investors, different regulatory requirements and funds at different stages of development from start-up funds raising capital to well established asset managers that manage billions of dollars in assets. We act on boards that cover all known hedge fund strategies covering all asset classes and fund legal structures including stand-alone hedge funds, long-only funds, fund of funds, SPC’s, master-feeder structures, mini-master funds, investment management companies and private equity funds (General Partner and Managers’). Our professionals act on a select number of boards and it is only sensible given the increased obligations of directors in the modern regulatory environment that we adequately possess the time available to discharge our fiduciary duties and take a hands on approach to our role as directors.
Clearly Defined Responsibilities
We understand our role as independent fund directors, the fiduciary laws and obligations surrounding each appointment we accept. We understand the need to address matters of risk management, operational infrastructure, the avoidance of conflicts of interest, regulatory developments, counter-party risk and any matters that could potentially impact investors.
We see ourselves, not as a service provider, but as a partner of the investment management industry. We have a close relationship with industry, attend regulatory and investor conferences across the globe to ensure we remain fully current with industry matters affecting our role in order to address concerns and matters of risk that may impact our role as independent fund directors. We meet frequently with service providers and investment managers around the globe.
Periodic and Transparent Information
All board meetings are periodic throughout the year, planned for, agenda’s distributed in advance and professional minutes are taken of such meetings. We also try to meet with managers at least once a year in person. As we are full time professional directors we are readily available to deal with any matter that may arise on an ad-hoc basis also.
Our firm policy is that each independent fund director provides services to a select number of fund boards. Capacity of directors is typically one of the first questions to arise these days and Bell Rock management carefully manages the time required for each appointment to ensure that each director has more than adequate time to devote to their fiduciary obligations.
Bell Rock is completely independent of investment managers and all service providers in the industry. It is important to be able to demonstrate that the independent fund director on the board is independent and that no suggestion of conflicts of interest may arise. Our directors do not invest in any of the funds they act on.
Regulated by CIMA
The Bell Rock Group is regulated and licensed by the Cayman Islands Monetary Authority. In essence, we are subject to regulatory oversight, required to maintain minimum capital requirements, insurance, independent audit requirements, compliance, anti-money laundering requirements, client data contingency and client documentation security.