Oversight within the investor community is the requirement to have a holistic overview of portfolios, performance and risk. Oversight is often managed by a third party but can be managed in house. Third parties can be Authorized Corporate Directors (ACDs) but are also often Directors on the Board, Trustees, Management Companies (ManCos) and Series Trusties in North America. Their role is to oversee the fund and the fund manager, ensuring that choices are in the interest of the investor. This calls for transparency, independent verifiable data and the ability to challenge the fund managers decisions and purchases.