Hedge Funds

Cayman fund directors over-committed, says Cass


Cass Business School professor Meziane Lasfer says that many non-executive hedge fund directors in the Cayman Islands are increasingly challenged in performing their fundamental duty of protecting investor interests by practical time constraints and the fact that they serve on too many fund boards.

Lasfer cites report that some directors are sitting on more than 100 boards and empirical evidence that shows that companies hold, on average, 11 meetings per year. If each meeting lasts one day, says Lasfer, non-executive directors can attend only about 33 meetings a year. So if they sit on 100 boards, they will