Pension Fund Investment Management

Some of the topics covered in this book include:

1. Setting investment policy

2. The sponsor's view or risk

3. Internal versus external fund management

4. Selection of money managers

5. Manager fees and transaction costs

6. The role of fixed-income securities in plan portfolios

7. The benefits of indexing

Table of Contents

Section I: Investment Policy, Strategies, and Asset Allocation

1. Pension Fund Governance, Operations, and Value Creation (K. Ambachtsheer)

2. Investment Policy: The Missing Link (J. Bailey)

Appendix: Illustration of an Investment Policy (M. Menssen)

3. Organizing Internal Investment Management (G. Allen and T. Coggin)

4. Managing the Asset Mix: Decisions and Consequences (R. Arnott)

5. The Evolving Role of the Pension Investment Consultant (H. Marmer)

6. Investment Styles, Stock Market Cycles, Investor Expectations, and Pension Fund Performance (W. Bauman and R. Miller)

7. Strategic Currency Management for U.S. Pension Funds (J. Braccia)

8. The Role of Completion Funds in Equity Style Management (C. Campisano and M. Nederlof)

9. Computer-Aided Pension Investment Decision Making (R. Surz)

10. A Plan Sponsor's Guide to Commissions (A. Biller)

Section II: Benchmark Selection

11. Benchmark Portfolios: The Sponsor's View (D. Peifer)

12. Return-Based Style Analysis (S. Hardy)

13. Equity Style Benchmarks for Fund Analysis (M. Compton)

Section III: Asset/Liability Management

14. Pension Liabilities: The True Objective (R. Ryan)

15. A Practical Approach to Integrating Pension Finance with Corporate Finance (M. Sloan)

16. Measures of Risk for Portfolio Optimization and Asset/Liability Modeling (T. Philips)

Section IV: Manager Selection and Compensation

17. Managing Firmwide Risk for Pension Funds (L. Gibson, III)

18. Money Manager Selection: A Top-Down Approach (V. Kutler)

19. Selecting an International Investment Manager (M. Gorodess)

20. Establishing Performance-Related Termination Thresholds for Investment Management (D. Hammond)