Boards have improved governance standards in recent years and most understand that independence, competence and integrity are all essential. Most funds have implemented robust governance policies and procedures.

The next step up seems likely to be in the areas of strategic planning, setting key performance goals and measuring board performance.

Getting board reporting focused on the key measures is also important. A board of trustees needs to have the right information to manage effectively. Many funds struggle to balance the board’s time and attention between compliance and delivering the business plan.

Trustee directors should also be concerned that their commercial decisions are aligned with their fiduciary responsibilities. Any decision to advertise or spend money on business development for example, needs to be justified in terms of value returned to members. Getting this balance right is important so funds need an analytical approach, an understanding of costs and to measure the right indicators.

We are helping funds align strategy, governance and reporting and, in so doing, we are helping even the most effective boards achieve more for their members.

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In the dark on super - What trustees don't know about the health of their funds
Aligning strategy with board reporting and board performance