Opalesque – According to Taxjustice.blogspot.com, a Financial Times investigation on Independent Directors of\u00a0hedge funds\u00a0reveals that at least four individuals hold more than 100 non-executive directorships each, and 14 have more than 70 \u2013 each worth as much as $30,000 a year. One has been listed as on the boards of 567 Cayman entities, almost all of which are hedge funds.<\/p>\n
This issue has also been discussed in detail by the recent Opalesque 2011 Cayman Roundtable. Greg Bennett, a Cayman based professional of The Harbour Trust Co. Ltd. and Independent Director confirmed that the question how many funds can a Director really serve as an Independent Director is the key question being asked by investors and considered by independent Directorship providers: “The reason that it generates such consideration is that there really is no simple answer on the issue. There are a number of reasons for this, including that the time and effort required to discharge one\u2019s obligation varies by structure.<\/p>\n