Achieving Investment Excellence A Practical Guide for Trustees of Pension Funds, Endowments and Foundations

PRAISE FOR

ACHIEVING INVESTMENT EXCELLENCE

"It is a well-written journey through all key aspects of investment governance. Not only trustees would benefit from this well of knowledge, but also professionals working within the institutions and stakeholders on the outside."
—Knut Nordheim Kjaer, Chairman and Partner, FSN Capital, Norway

"Thus far, there has not been a high-level source for systematically educating board members on the challenges of their duties. Most of the investment literature is either too superficial or too specialized. Achieving Investment Excellence spans the relevant fields."
—Theresa Whitmarsh, Executive Director, Washington State Investment Board, United States

"This book is a great addition to financial literature. The scope of the material and the mini-cases make it very accessible for a wider public than only board members and trustees."
—Eduard van Gelderen, Chief Investment Officer, PSP Investments, Canada

"This book will be invaluable. I find each page to contain extremely helpful guidance to pension fund trustees."
—Frank J. Fabozzi, Editor, Journal of Portfolio Management, United States

"Raising the investment governance budget is crucial for pension fund trustees. This book achieves exactly that. A 10-hour crash course on the key elements of investment excellence for pension funds."
—Jaco van der Walt, Head - Investment Management Office, FirstRand, South Africa

"I have found it to be thorough, well-organized, well-written and it will be, I am sure, of great help to any pension fund trustees starting out on the job, as well as those wanting to refresh their perspective."
—Steve Lydenberg, Partner - Strategic Vision, Domini Impact Investments, United States

"Achieving Investment Excellence is a book that was waiting to be written and the three authors are uniquely qualified to make it happen! Written in clear, simple language, the book covers all the essentials that trustees and others involved in the governance of pension investing need to know without compromising on accuracy or rigour."
—Sung Cheng Chih, CEO, Avanda Investment Management; Board Member, MIT Endowment, Singapore

"This book is outstanding. It successfully provides trustees with actionable learnings and insights that will improve decision making in pursuit of best practice in governance and sustainable investment excellence. It should be required reading for all investment committee members."
—Todd Ruppert, Board member and Endowment Chair, Furman University and INSEAD business school; Venture Partner, Greenspring Associates; Retired CEO and President, T. Rowe Price GIS

"Boards of trustees are key in creating and supporting the conditions for long-term investment success on behalf of their beneficiaries. Achieving Investment Excellence will be of great help for board members aiming at playing their role more efficiently in the rapidly evolving field of pension investing."
—Lionel Martellini, Director, EDHEC-Risk Institute; Professor of Finance, EDHEC Business School

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.

• Understand the role of pension funds and the fiduciary duty of trustees
• Learn the tools and kills you need to build profound and lasting investment excellence
• Analyse, diagnose and improve investment quality of funds using concrete tools and instruments

• Study illustrative examples that demonstrate critical implementation and execution advice

Packed with expert insight, crucial tools and real-life examples, this book is an important resource for those tasked with governing these. Achieving Investment Excellence provides the expert insight, clear guidance and key wisdom you need to manage these funds successfully.