Bell Rock glossary
Fiduciary Duty
The legal obligation of a director or other fiduciary to act in good faith and in the best interests of the entity they serve.
A fiduciary duty is the obligation, imposed by Cayman common law and reinforced by statute, on directors and certain other office-holders to act in good faith, in what they consider to be the best interests of the company or fund, for proper purposes, and free from unauthorised conflicts of interest. For fund directors, these duties underpin objective oversight of the manager, valuation and service providers, and are central to the governance standards allocators expect.
Related guidance
Side Letter · Offering Memorandum
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