Corporate Governance

There is no applicable regime of corporate governance to which directors of a Cayman Islands company must adhere over and above the general fiduciary duties and duties of care, diligence and skill imposed on such directors under Cayman Islands law. The Directors, however, recognise the importance of the Principles of Good Corporate Governance and Code of Best Practice as set out in the UK Corporate Governance Code issued by the Financial Reporting Council (the “Governance Code”). The Board intends to take appropriate measures to ensure that the Company complies with the Governance Code to the extent practicable and commensurate with the size and operations of the Company.

The Directors have overall responsibility for the Company's activities including the review of its investment activities and performance. Additionally, they have primary responsibility for determining the Company's overall investment objective and strategy and for implementing the Company's current investment policy which is focused on realising investments.

The Board is considered to be sufficiently independent to provide an objective oversight to the business decisions of the Company. The Independent Directors are Martin Adams (Chairman of the Company) and Michael Tyler. Further information on the Directors knowledge and experience can be viewed at http://www.kuberacrossborderfund.com/boardofdirectors.html

The Board is also responsible for supervising and reviewing the activities of the Investment Manager. The Directors hold quarterly board meetings to review the investment performance and other high-level management information including financial reports and reports of a strategic nature. The Board monitors compliance with the Company’s objectives and investing policy.

Board Committees

In January 2016 the Audit Committee was disbanded. Decisions normally reserved for an Audit Committee will be made by the Board as a whole.

Auditors

The Audit Committee has direct access to the auditors, KPMG, Mumbai, India.

Internal Control and Management of Risk

The Board has overall responsibility for the Company’s systems of internal controls and for reviewing their effectiveness and ensuring the day to day operations. These controls aim to ensure that assets of the Company are safeguarded, proper accounting records are maintained and the financial information used within the business and for publication are reliable. In common with most investment property companies of a similar size, the Company does not have an internal audit function. All of the Company’s dayto day management functions are delegated to the Investment Manager and the Administrator which have their own internal audit and risk assessment and whose controls are monitored by the Board. The Investment Manager is responsible for the day-to-day management of the Fund’s investment portfolio in accordance with the Fund’s investment objective and policies and has full discretionary investment management authority.