Overview

This is Module 14 of the Henley Executive Hedge Fund Program (HEHFP), which discusses what governance means, the duties and responsibilities associated with governance, and some historic scandals and failures. It also addresses practical issues including the role of the Board of Directors, remuneration and independence of directors, and how Board Meetings should be run.

This module is a 2.5-hour (approx. study time) course and is eligible for 1 SFC CPT/PWMA OPT hour.

Check out the other modules in the Program:

• Module 1: Overview of the Hedge Funds Industry
• Module 2: Structuring & Setup
• Module 3: Capital Raising & Investor Relations
• Module 4: Portfolio Management
• Module 5: Portfolio Risk Management
• Module 6: Markets and Trading
• Module 7: Prime Brokerage Services
• Module 8: Business Management & Fund Administration
• Module 9: Operations and Technology
• Module 10: Operational Risk Management & Operational Due Diligence
• Module 11: Legal
• Module 12: Ethics (2023)
• Module 13: Compliance
• Module 15: Tax, Audit & Accounting
• Module 16: Human Resources
• Module 17: Pitchbook Formation

Objective

By the end of this module, you will be able to:
- State the practical consideration for constructing a fund governance environment
- Understand the importance of Fund Governance
- Explain the roles and responsibilities as Board of Directors of a Fund
- Describe the Investor's expectations and preferences in a Fund
- Explain the governance in the Trust Fund model

Content

Part 1 - Pre-reading materials
(i) Useful definition
(ii) The Role and Duties of Hedge Fund Directors
(iii) Quick Guide
(iv) The Independent Director
(v) Standardised Board Agenda
(vi) "Independent" director conflicts in the Bear Stearns case
(vii) Governance lessons from the Weavering case

Part 2 - Presentation Slides of the eCourse

Part 3 - Fund Governance eCourse*
(i) Introduction
(ii) Section 1: Introduction to Fund Governance
(iii) Section 2: Practical Matters
(iv) Section 3: Board Meetings
(v) Section 4: Trust Fund Model
(vi) Conclusion

Part 4 - Quiz*
The quiz consists of 15 questions where learners have 3 attempts to achieve at least 80% with correct answers as a pass.

Part 5 - Post-reading materials
(i) Board Meeting Agenda
(ii) Hedge Fund M&A redacted
(iii) Investment Fund Governance Toolkit
(iv) AIMA Hedge Fund Manager DDQ 2014
(v) Sound Practice Hedge Fund Managers
(vi) Webcast from Chartered Accountants Ireland
(vii) Newspaper article
(viii) Cayman Islands Directors Licensing and Registration Regulations
(ix) Link to the Certified Investment Fund Director Programme
(x) Useful websites

* mandatory parts to complete

Who should attend

(1) Hedge Fund professionals seeking to enhance their knowledge
(2) Individuals looking to start a Hedge Fund
(3) Service providers e.g., Banking, Risk, Compliance and IT professionals, Lawyers, Fund Administrators