The Company is a member of the Association of Investment Companies (the “AIC”, theaic.co.uk) and by complying with the February 2019 edition of the AIC code of Corporate Governance for investment companies (“AIC Code”) is deemed to comply with both the UK and Guernsey Codes of Corporate Governance.
https://www.theaic.co.uk/sites/default/files/documents/AIC2019AICCodeofCorporateGovernanceFeb19.pdf
Duties and Responsibilities
The Board has overall responsibility for optimising the Company’s performance by directing and supervising the affairs of the business and meeting the appropriate interests of shareholders and relevant stakeholders, while enhancing the value of the Company and also ensuring the protection of investors.
A summary of the Board’s responsibilities is as follows:
- statutory obligations and public disclosure;
- strategic matters and financial reporting;
- risk assessment and management including reporting, compliance,
- governance, monitoring and control; and
- other matters having a material effect on the Company.
The Board is responsible to shareholders for the overall management of the Company. The Board has delegated the day-to-day operation of the Company to the Investment Manager, the Administrator and the Company Secretary. The Board reserves the powers of decisions relating to the determination of investment policy, the approval of changes in strategy, capital structure, statutory obligations, public disclosure and entering into any material contracts by the Company.