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The DUFAS Principles of Fund Governance are a consequence of the Dutch Commission on Modernising Investment Funds (‘Winter Commission’), which advised in december 2004 that each fund management company should have an independent supervisory board. This is not a much used model in Europe. Therefore DUFAS has looked for alternatives in collaboration with the Dutch Ministry of Finance. The result is these self regulatory principles. The aim of these Principles of Fund Governance is to give guidance on the organization and workings of fund managers or independent funds to create safeguards for a sound execution of the fund business and a careful service to the client. 

The DUFAS Principles of Fund Governance are formulated in such a way that within the given aims there is room for differences in Fund Governance which are connected to the differences in nature and size of the organisatiion of the fund manager. When a fund dos not opt for a supervisory board at the management company, it needs to shape the oversight function in another way, where the oversight entity must be able to operate independently from the fund manager and associated parties. In the annex to the DUFAS Principles of Fund Governance a number of options are described regarding how a fund manager can shape this within his own organisation.

DUFAS Principles of Fund Governance

The Dutch language version of the Principles can be found in the Publications section of this website.