Now available - Executive Summary of the 2014 ILA / PwC Luxembourg Fund Governance Survey

February 1, 2015

Now available – Executive Summary of the 2014 ILA / PwC Luxembourg Fund Governance Survey

We are pleased to present to you the Executive Summary of the 2014 Luxembourg Fund Governance Survey  .  The aim of the survey is to provide boards with insight into the current best practices and to strengthen further the overall governance framework of the fund industry in Luxembourg.

This survey, which is in its seventh year and which was last completed in 2012, was conducted jointly by PwC and ILA during the period July to October 2014.  Members of MDO Management Company’s Board (our CEO, Martin Vogel who is also a member of the ILA Investment Fund Committee and John Li, ILA Board member) contributed to the survey.

Since the last survey was completed, new regulations have been introduced and governance in Luxembourg is evolving to meet new requirements.  New regulations are coming up and the survey asked respondents whether they have considered the strategic implications these will have in future.

The survey takes an in-depth look at governance practices within funds and management companies domiciled in Luxembourg.  Board composition is examined, the organisation of board meetings, the roles and responsibilities of boards and the approach to conflicts of interest.  The findings confirm continued progress in governance practices, especially with regards to transparency, the appointment of independent directors, the formation of committees and the identification and elimination of conflicts of interests.

We hope that you find this survey useful and informative.