Asset managers have trimmed the number of independent directors on their fund boards as they wrestle with cost pressures, new research finds.
The average number of independent directors per fund board fell 11 per cent last year to 2.3, according to research from Fitz Partners, a specialist fund research firm.
Over 30 boards dropped one of their independent directors in the analysis that covers 502 funds domiciled in Luxembourg and Ireland.
To read more click here Fund boards cut independent directors
