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Fiduciary duty is the golden rule ‘regulating’ the relationship between trustees and beneficiaries. In principle, it … respects, fiduciary duty is a chimera: it looks to convention rather than forward to innovation in investment management. As … such, governance policies and practice must provide the instruments that simple recipes of fiduciary duty are ill …
Persistent link: https://www.econbiz.de/10014176541
In this article, we investigate the level of diversity of the largest 100 pension funds in the Netherlands. Our results … Netherlands with diversity in (inter)national corporations and find similar levels of diversity. This high level of similarity … board diversity, in the Netherlands and potentially elsewhere …
Persistent link: https://www.econbiz.de/10013008151
that imposes on financial advisers to retirement savers “fiduciary” status under the Employee Retirement Income Security … Act. The Department reasoned that the fiduciary duty of loyalty was necessary to protect retirement savers from conflicted … investment advice. But in addition to a duty of loyalty, ERISA fiduciary status also imposes a duty of care or prudence. And with …
Persistent link: https://www.econbiz.de/10011578647
Department of Labor promulgated a rule that imposes on financial advisers to retirement savers “fiduciary” status under the … Employee Retirement Income Security Act. The Department reasoned that the fiduciary duty of loyalty would protect retirement … savers from conflicted investment advice. But in addition to a duty of loyalty, fiduciary status also imposes a duty of care …
Persistent link: https://www.econbiz.de/10012989083
relate to public and ERISA pension funds from a fiduciary perspective. Risk management, valuation, disclosure, failure to pay …
Persistent link: https://www.econbiz.de/10013126014
officials may be in violation of their fiduciary duty responsibilities toward pension system beneficiaries as they execute state … trustees and managers having to take action that are in violation of their fiduciary duty responsibilities.Research limitations … be revised as they cause a divergence of interests between state-driven political gestures, the fiduciary …
Persistent link: https://www.econbiz.de/10013060869
For many people, a pension fund represents a crucial source of financial security in their retirement years. But have you ever stopped to consider who is responsible for managing these funds and ensuring they are safeguarded for future generations? In Zimbabwe, pension fund trustees play a...
Persistent link: https://www.econbiz.de/10014355448
Many pension funds have a mismatch between assets and liabilities, taking more risks than securing liabilities implies. This puts fixed claims of retirees at risk. For the cases with and without macro-risk, this paper analyses the implications of this asset-liability mismatch for welfare,...
Persistent link: https://www.econbiz.de/10013132403
We study whether pension fund board governance relates to asset allocation and show that well-governed boards have greater international diversification and lower cash holdings. In particular, boards that establish comprehensive investment policies invest more in risky assets, in foreign assets...
Persistent link: https://www.econbiz.de/10012892759
Representation on pension fund boards by state officials — often determined by statute decades past — is negatively related to the performance of private equity investments made by the pension fund, despite state officials' relatively strong financial education and experience. Their...
Persistent link: https://www.econbiz.de/10011721511