Achieving investment excellence. A practical guide for trustees of pension funds, endowments and foundations
Crucial methods, tactics and tools for successful pension fund management
Achieving Investment Excellence offers trustees and asset managers a comprehensive handbook for improving the quality of their investments. With a stated goal of substantially and sustainably improving annual returns, this book clarifies and demystifies important concepts surrounding trustee duties and responsibilities, investment strategies, analysis, evaluation and much more.
Low interest rates are making the high cost of future pension payouts fraught with tension, even as the time and knowledge required to manage these funds appropriately increases — it is no wonder that pensions are increasingly seen as a financial liability. Now more than ever, it is critical that trustees understand exactly what contributes to investment success — and what detracts from it. This book details the roles, the tools and the strategies that make pension funds pay off.
Table of Contents
About the Authors x
Acknowledgments
Foreword
Introduction
Levels of Excellence: Assessing and Improving Your Practice
Part One Pension Funds: Understanding the Role, Shaping the Mission
Chapter 1 The Role of Pension Funds, and the Role of Boards 19
2 Developing Purpose, Mission, Vision, and Goals 39
Part Two Designing the Process
3 Grasping the Investment Essentials 55
4 Investment Beliefs as Guiding Tools 77
5 Designing the Investment Management Process 93
6 Organizing the Investment Function 109
Part Three Implementing the Investments
7 Implementing the Investment Strategy 129
8 Building the Investment Portfolio 147
9 Monitoring and Evaluation 164
Part Four Organizing the Board
10 Becoming an Effective Board 181
11 Establishing the Investment Committee 203
12 Managing the Investment Management Organization 216
Part Five Learning, Adapting and Improving
13 Learning to Decide and to Take Advice 235
14 Achieving Investment Excellence 255
AUTORES: KEES KOEDIJK, ALFRED SLAGER and JAAP VAN DAM
