Ravensource Fund IRC Report - 2017.pdf

20180327085944_Ravensource_Fund_IRC_Report_2017 - Final.pdf
Preview of Ravensource Fund IRC Report - 2017
🔗 Source: ravensource.ca
📊 Size: 303 KB
👤 Author: Scott Reid
⬇️ Downloads: 95

Summary

Ravensource Fund established an Independent Review Committee (IRC) to address potential conflicts of interest between the fund and its Investment Manager, Stornoway Portfolio Management Inc. The IRC reviews and makes recommendations on matters referred by the Investment Manager to ensure fair and reasonable results for the fund. The committee consists of three members, who serve terms of up to three years, and their independence and effectiveness are regularly reviewed. In 2017, the IRC undertook a review of its charter, which was updated in January 2018 to reflect industry best practices. The committee members do not beneficially own more than 10% of the fund's units or any securities of the Investment Manager, except for one member who owns shares in Bank of Montreal, which provides services to the fund. The IRC's compensation was reviewed, and it was recommended to increase the annual retainers to bring them in line with industry averages. The committee discussed potential conflicts of interest related to the fund's investments, including those where the Investment Manager's president serves on the board of directors.

Description

Ravensource Fund established an Independent Review Committee (IRC) to address potential conflicts of interest between the fund and its Investment Manager,...

Technical Information

  • File Format: PDF
  • File Size: 303 KB
  • Pages: 5
  • Language: EN
  • Author: Scott Reid
  • Total Downloads: 95
  • Last Updated: 5 days ago

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