Advisory Board (committee) consisting of independent members with extensive industry knowledge and long-standing experience, and representatives of investors is a valuable resource for industry wide expertise, product development, regulatory compliance, cross-border business expansion and investment strategy fine-tuning and applicability.
It is the primary objective of the Advisory Board to stay aware and share confidence in value accretive product offering to the investor community as well as an integrity of the investment management process implemented in L2ARS (Long Only Leveraged Absolute Return Strategy).
DPRG Board of Directors at its absolute discretion determines the composition/routine and membership of the Advisory Committee to set a regular (at least semi-annually) meetings to discuss and examine matters pertinent to investment management practices, fair client dealing oversight, conflict of interest, compliance with applicable legislature and investment management fiduciary/industry standards, custody and brokerage infrastructure/transaction costs, performance results audit, international product offerings and network expansion.
Advisory Board meetings are chaired by its senior members on the rotational principle, subject to the set of questions brought to the agenda of the specific meeting. The meeting Chairman has the final authority to approve the agenda/materials and sign the resulting protocol/minutes with recommendations to the BOD.
The members of the Advisory Committee do not take part in the investment management process or interfere in any way in day-to-day business/operations, but rather supervise internal policies/risk management criteria in order to recommend amendments to the policies in place. The members of the Advisory Committee do not, in their capacity as such, owe a fiduciary duty to any person, including any investor/client, director or the management, as well as their sub-advisors or their associates. All decisions of the Advisory Committee, whenever applicable, to be taken by a vote of majority of its members, taken either at a meeting or, in the case of members unable to attend such a meeting, by the members signing written votes, consents or resolutions (as applicable). Members who decline to attend a meeting, or who abstain from voting at a meeting are not included in the numerator or denominator in determination whether any vote or resolution has been passed. Representatives of the Directors, Directors, Management and Investment Advisor(s) are entitled to attend and speak at meetings of the Advisory Committee but are not entitled to vote in respect of any matters discussed at such meetings.
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The Directors with the chairman consent appoint an Advisory Committee Secretary to maintain minutes of the proceedings of all Advisory Committee meetings and circulate the minutes to all members of the Advisory Committee for approval within 30 Business Days following any such meeting. Members of the Advisory Committee to confirm whether such minutes, may be disclosed to the investors/clients in whole or in part (with the possibility of approving subject to certain redactions) and if such confirmation is given, such minutes of the Advisory Committee will be available to all investors/clients for a period of one year after such meeting or longer if deem necessary.
Advisory Board memberships are established in a form of regular memberships and associates. Regular members are invited to take part in discussions and cast votes on all the questions brought to the meeting, while associates are to contribute expertise and deliver their input to either industry specific, or geographically intense/local market concentrated topics, or otherwise formulated niche point of board interest.
Advisory Board memberships are established in a form of regular memberships and associates. Regular members are invited to take part in discussions and cast votes on all the questions brought to the meeting, while associates are to contribute expertise and deliver their input to either industry specific, or geographically intense/local market concentrated topics, or otherwise formulated niche point of board interest.
Secondary Advisory Board objective is to establish an additional level of independent supervision, compliance and fiduciary responsibility adherence check and provide recommendations to the board of directors as per disciplinary actions as well as share industry practice on unwinding conflict of interest transactions executed by the management team.
The investment management team will not – and will ensure that its associates (including the Investment Advisor, the Investment Advisor’s principals, and any immediate member of their families) will not – without the prior consent of the Advisory Committee, buy Investments from, or sell Investments to, any managed account or invest in any asset in the portfolio.
In case any transaction/co-investment takes place between Advisory Board members and DPRG IM managed accounts, any such a transaction becomes subject to adequate, timely disclosure and conflict check by the Advisory Committee prior or at the next meeting thereafter.