The FGA is a means for the industry to reach a more commonly accepted set of standards on governance issues than exist today, including but not limited to issues concerning directors and their responsibilities.
The establishment of the FGA means that investors and industry participants will now have a body that they can consult with and look to for guidance on governance questions.
It is worth emphasising that the FGA is an independent, not for profit, entity that does not represent any commercial interest.
The goal of the FGA is to arrive at a position where its recommendations are taken up by industry participants around the world. Working in close consultation with its members and professional advisors, the FGA intends to produce its own code of sound practice on fund governance. It is intended that this voluntary code will be eventually adopted worldwide and will become standard across the industry.
Click here for information on the founding executive committee of the FGA