Do fund directors of a sicav have to be independent?

In a Société d'Investissement à Capital Variable (SICAV), fund directors are generally expected to be independent to ensure that they act in the best interests of the shareholders and maintain effective governance. Regulatory frameworks in various jurisdictions often stipulate that a certain proportion of the board members should be independent, free from conflicts of interest with the management or investment advisor. However, the specific requirements can vary based on local regulations and the fund's governance structure.