Corporate Governance

TY Danjuma Family Office

At TY Danjuma Family Office we believe in a strong framework of corporate governance. We endeavour to follow the UK Corporate Governance Code set out by the Financial Reporting Council in the UK as well as any applicable recommendations of the 2009 Walker Review.

The Board of Directors of TY Danjuma Family Office Ltd serves as an oversight body for the Family Office’s activities, hence three family members are present on the Board as well as one Senior Independent Director.

The TY Danjuma Family Office’s Audit Committee is made up of our Non-Executive Director, Senior Independent Director, our auditors, KPMG, and our Company Secretary, TMF UK Corporate Secretarial Services Limited.

TY Danjuma Family Office’s key governance principles are:

i.Transparency and Accountability;

ii.Compliance and Regulatory Oversight;

iii.Strong Internal Controls with Separation of Powers;

iv.Separation of Ownership and Management

TY Danjuma Family Office has instilled a compliance and risk culture in its operations. The Board has outlined the plan of action to continue to develop the Company as a best-practice Family Office. The challenge that 2010-11 brings is to convert earning capacity into sustainable operation. Having successfully completed the transformation from a small office, the focus is now on sustainability as a precondition to the company’s future strategy. The Company is adequately capitalised to serve this transformation and continues to review its policies and procedures to ensure they follow best-practice.

In order to adopt and follow best practices in Corporate Governance the Family Office relies on existing international standards rather than trying to define our own standards. We have therefore integrated a selective set of standards into our internal manuals and policies, these include;

Our Company Policies and Compliance Manual (CPCM) which incorporates relevant provisions of the UK Corporate Governance Code. Although the Family Office is not listed, we follow relevant recommendations of the Walker report. Hence, the Board of Directors of TY Danjuma Family Office is primarily responsible for the adoption and review of all risk-management and compliance policies. Likewise, our Senior Independent Director acts as “a sounding board for the Chairman”. In 2010 the Board received a full performance and governance review from TMF and corrective actions were undertaken by management to address issues.

Our Employee Policy and Code of Conduct (EPCC) incorporates industry-standard whistle-blowing and anti-bribery policies.

Our audited accounts comply with International Financial Reporting Standards (IFRS7). Hence the level of disclosure represented in our annual report is “at par” with industry best-practices. Despite our small size, we are early adopters of IFRS7 and we spent considerable time with our external accountants, TMF, and auditors, KPMG, on our first Annual Report, to ensure we set up an accounting and reporting process compliant with IFRS from our first year of operation.

Download our Employee Policy and Code of Conduct

Our Company Investment Management Process and Guidelines (CIMPG) incorporates the CFA-Asset Manager Code of Professional Conduct, the Institute for Wealth Management Standards and the Global Investment Performance Standards (GIPS). The adoption and compliance with GIPS was one of the key decision criteria for the choice of our Family Office system, Advent (http://www.advent.com/solutions/by-product/apx). Rather than trying to develop our own reporting rules, we have invested in the industry-leading IT package to allow us to guarantee to the Family the highest level of transparency and conformity of our reports.

Our audited accounts comply with International Financial Reporting Standards (IFRS7). Hence the level of disclosure represented in our annual report is “at par” with industry best-practices. Despite our small size, we are early adopters of IFRS7 and we spent considerable time with our external accountants, TMF, and auditors, KPMG, on our first Annual Report, to ensure we set up an accounting and reporting process compliant with IFRS from our first year of operation.