The Fund’s management is supervised by the TCX Supervisory Board, which is responsible for oversight and governance of the Fund’s policies and strategy. The current Supervisory Board members are either independent or related to substantial investors in the Fund.
TCX’s Valuation Committee is a unique feature of the TCX governance model, consisting of 5 independent professionals chosen for their expertise in emerging and frontier markets. The Committee’s purpose is to a) decide on the ‘benchmark’ curves to be used by the Fund Manager for pricing and valuing TCX’s derivative transactions, b) advise the Fund Manager on global macro-economic trends and risk issues, and c) advise the Supervisory Board on relevant topics on an ad-hoc basis. The Committee does not engage in setting the actual pricing on individual trades and imposing conditions or restrictions.