Nicholas Thompson Chairman

The Board is committed to maintaining a high standard of corporate governance and transparency throughout the business.

As a member of the Association of Investment Companies, we comply with the AIC Code, which ensures the Group meets its obligations under the UK Corporate Governance Code.

In 2014 we set up a separate Risk Committee, to help us address the additional responsibilities arising from the Alternative Investment Fund Managers Directive, including developing a Risk Management Policy across the Group. We recognised that there would be some overlap in responsibilities with the Audit Committee and subsequently have concluded that the two committees should be merged, which was effective from February 2016.

In 2015, we established a separate Nominations Committee. It considered a number of matters, including succession planning.

As a Board we recognise the importance of good corporate governance and aim to be open and transparent in our dealings with shareholders. We encourage involvement with industry bodies, and a number of the Directors actively participate with the AIC in both Guernsey and the UK.