Essentials of Governance

Governance delineates the functions that decision-makers are assigned to perform, provides those decision-makers with the authority to execute those functions, and gives someone the tools to monitor those decisions. While there are four primary governance models for investment funds, within each model there can be many variations, and the different sets of actors (­decision-makers) will play varying roles from organization to organization. The governing oversight also varies from model to model (we discuss these models in the next chapter).

In any business, setting a “road map” for how an organization will ­navigate the challenges ahead is a critical component to the overall success of the organization. This ...

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