Skip to main content Accessibility help
×
Hostname: page-component-78c5997874-ndw9j Total loading time: 0 Render date: 2024-11-10T21:36:52.523Z Has data issue: false hasContentIssue false

11 - Investment governance of defined benefit pension funds

Published online by Cambridge University Press:  05 July 2011

Roger Urwin
Affiliation:
Towers Watson
Get access

Summary

Introduction

In institutional funds generally and defined benefit pension funds specifically, investment ‘governance’ describes the system of decision-making and oversight that is used to invest the assets of a fund. The responsibility for this investment role lies with trustees or other types of fiduciaries who are faced with high-level investment decisions (where they will typically take full responsibility) and more detailed implementation actions (where delegating to others is more likely to be used and the fiduciaries’ role becomes one of framing the delegations and monitoring the actions of the delegated agents).

Investment governance, therefore, employs skills, resources and processes with the purpose of creating value for institutional funds.

There is a distinction between the inherited structure of investment institutions — normally framed by statute, property rights and covenants — framed by the rules and processes that sustain their performance.

Type
Chapter
Information
Publisher: Cambridge University Press
Print publication year: 2011

Access options

Get access to the full version of this content by using one of the access options below. (Log in options will check for institutional or personal access. Content may require purchase if you do not have access.)

References

O’Barr, W.Conley, J.Fortune and FollyHomewood, IllinoisBusiness-One Irwin 1992Google Scholar
Ambachtsheer, K.Pension Revolution: A Solution to the Pensions CrisisNew JerseyWiley Finance 2007Google Scholar
Wyatt, WatsonRemapping Our Investment WorldLondonTowers Watson 2003Google Scholar
Wyatt, WatsonChanging LanesLondonTowers Watson 2004Google Scholar
Wyatt, WatsonSales, Stewardship and Agency IssuesLondonTowers Watson 2007Google Scholar

Save book to Kindle

To save this book to your Kindle, first ensure [email protected] is added to your Approved Personal Document E-mail List under your Personal Document Settings on the Manage Your Content and Devices page of your Amazon account. Then enter the ‘name’ part of your Kindle email address below. Find out more about saving to your Kindle.

Note you can select to save to either the @free.kindle.com or @kindle.com variations. ‘@free.kindle.com’ emails are free but can only be saved to your device when it is connected to wi-fi. ‘@kindle.com’ emails can be delivered even when you are not connected to wi-fi, but note that service fees apply.

Find out more about the Kindle Personal Document Service.

Available formats
×

Save book to Dropbox

To save content items to your account, please confirm that you agree to abide by our usage policies. If this is the first time you use this feature, you will be asked to authorise Cambridge Core to connect with your account. Find out more about saving content to Dropbox.

Available formats
×

Save book to Google Drive

To save content items to your account, please confirm that you agree to abide by our usage policies. If this is the first time you use this feature, you will be asked to authorise Cambridge Core to connect with your account. Find out more about saving content to Google Drive.

Available formats
×