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Luxembourg is currently a world leader in asset management and fund servicing. John Parkhouse, Partner of PricewaterhouseCoopers Luxembourg, applauds this, but wants the country to be seen as a world leader in the adoption of sound fund governance practices too. The fifth edition of PwCs Luxembourg Fund Governance Survey, prepared jointly with the Institut Luxembourgeois des Administrateurs (ILA) shows where Luxembourg stands at the moment. The concept of governance is still misunderstood in some quarters. Many would view it as merely an extension of the compliance and legal functions, complete with the attending administrative burden. This would be overly simplistic according to John Parkhouse, chairman of the ILA Fund Committee and partner of PwC Luxembourg. John Parkhouse...
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