Outsourcing Investment Decision Making

As we have discussed, good governance exists when the board and investment committee are allowed to focus on issues that impact the long-term objectives of the fund, rather than being responsible for investment decisions. Part of good governance is simply acknowledging the fact that managing investable assets is a full-time job, and not some collateral duty for the investment committee, the board, or the CFO.

While the investment committee or board focuses on strategy and the external investment managers select securities and investments, there exists a need to connect (or link) the right investment managers and strategies to the big-picture items recommended by the board. Constructing a connection ...

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