By Anton van Nunen
Fiduciary administration deals an in-depth rationalization of each aspect of this fast-growing method of organizing the administration of an institutional funding portfolio. specialist writer Anton van Nunen starts through outlining the old shift that has introduced this technique to the eye of the funding neighborhood and quick strikes directly to illustrate fiduciary administration in perform; giving suggestion when it comes to asset-liability modeling and monetary markets, developing portfolios, choosing and overseeing funding managers, benchmarking and function size, and reporting.
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Additional info for Fiduciary Management: Blueprint for Pension Fund Excellence
The issues involved in mounting asset-liability studies will be examined more fully in Chapter 5. THINKING THROUGH RISK AND RETURN Once a plan sponsor has examined its assets and liabilities at any point in time, it then needs to consider the risks and returns associated with various investment approaches. The principal risk facing a pension fund is that it will not have enough money in the fund to pay its pension obligations. The extreme case is that of a pension fund with substantial obligations and a financially troubled plan sponsor.
Moreover, risk management is more effective: the larger entity can assume more risk and the decisions on the risk budget are taken by people who can make better-informed decisions. However positive this latest development may be, the fact remains that going from DB to DC still implies the transfer of risk from the employer to the employee. 8 Regulation is tailored to this distinction. During the last few years major changes have altered the Dutch pension landscape. The Dutch central bank, which oversees financial institutions, devised a new regulatory scheme that served as a prelude for new legislation in this field.
The asset-liability study needs to be undertaken by a specialist who is able to bring together actuarial principles with an understanding of the The Role of the Fiduciary Manager as Chief Advisor 41 vagaries of financial markets. A Fiduciary Manager can play a crucial role in this in several ways. One is to convince the fund that an asset-liability study is a necessary tool for good management. Another is help provide critical information needed for the study. Yet another is to evaluate the outcome of such a study.
Fiduciary Management: Blueprint for Pension Fund Excellence by Anton van Nunen