Institutional Investor - Corporate Governance
 

We’re very serious about safeguarding our clients’ money

We’re entrusted with the stewardship of our clients’ assets, a responsibility that we take very seriously. Our reputation as responsible, considered investment professionals is important to us, and we must be above reproach when investing on behalf of our clients. And when it comes to our unit trust funds, the financial statements are fully documented and publicly disclosed.

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A conflict of interest prejudices, or can be seen to prejudice, an individual’s objectivity and ability to act in the best interests of our company and our clients. We therefore have a clear policy on how to manage conflicts of interest. It sets out the standard we set in respect of avoiding or, where this is not possible, mitigating potential and actual conflicts of interest. It encompasses conflicts that can occur as a result of our staff members’ personal interests and relationships, as well as business interests and associations.

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We’re committed to avoiding conflicts of interest wherever possible; but where an unavoidable conflict may arise, we always place our clients’ interests ahead of our own. One area where a conflict can arise regards the acceptance or giving of gifts, benefits or hospitality to or from suppliers, counterparties, intermediaries, clients or issuers.

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Our corporate structure, while extremely efficient and fairly simple, does have a holding company and four subsidiaries for our investment management, insurance, unit trust and Namibian operations.

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Our governance responsibilities and our commitments to our clients are at the very core of our Directors and Management interests and we have a number of structures to aid them in this task. These are reflected in this Corporate Structure document.

Our Boards are ably assisted in fulfilling their governance responsibilities by a team of professionals specialising in Risk, Compliance, Legal and Company Secretarial work. This team is integrated into but operates independently of the various businesses and is run by Kerry Horsley (Head of Risk and Compliance).

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Additionally, we have recently expanded our governance capabilities by starting a Quality Assurance function designed to improve the assurance provided on the control environment to the Board and to Management. This team is headed by Arveen Rughubar in conjunction with Kerry Horsley.

At Prudential we will always comply with all of our relevant legislative obligations, but we also strive to go beyond what is legally required and set ourselves even higher ethical standards.