Governance and Investment of Public
            Pension Assets : Practitioners' Perspectives

Rajkumar, Sudhir; Dorfman, Mark C.

dc.creator	Rajkumar, Sudhir
dc.creator	Dorfman, Mark C.
dc.date	2012-03-19T09:36:19Z
dc.date	2012-03-19T09:36:19Z
dc.date	2011
dc.date.accessioned	2023-02-17T20:38:20Z
dc.date.available	2023-02-17T20:38:20Z
dc.identifier	http://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000333037_20110425010141
dc.identifier	978-0-8213-8470-1
dc.identifier	http://hdl.handle.net/10986/2553
dc.identifier.uri	http://localhost:8080/xmlui/handle/CUHPOERS/242976
dc.description	The impact of good governance on investment management and performance is immense. Several key factors contribute to good governance within pension funds, appropriate governance structures; well-defined accountabilities, policies, and procedures; and suitable processes for the selection and operation of governing bodies and managing institutions. Not surprisingly, good governance requires leadership by individuals with the expertise, professionalism, and integrity to navigate a fund's direction and withstand pressures from multiple constituencies. In the current context of aging populations in many countries, fiscal burdens on pension funds are increasing. At the same time, the necessity of delivering on pension commitments in contributory schemes means that governance, transparency, and accountability should be of utmost importance to pension fund managers. With these concerns in mind, part three of this book provides useful perspectives from senior managers of public pension funds, international pension authorities, and multilateral institution representatives on the structures, policies, and processes that aim to support good governance. Principally reflecting on the characteristics that have been conducive to good governance, including reform measures undertaken, they also consider policy and investment management measures taken to effectively manage fiscal risks, including those that emerged from the financial crisis.
dc.language	English
dc.publisher	World Bank
dc.rights	CC BY 3.0 IGO
dc.rights	http://creativecommons.org/licenses/by/3.0/igo
dc.rights	World Bank
dc.subject	ACCOUNTING
dc.subject	ACCOUNTING STANDARDS
dc.subject	ALTERNATIVE ASSET
dc.subject	ASSET CLASS
dc.subject	ASSET CLASSES
dc.subject	ASSET GROWTH
dc.subject	ASSET MANAGEMENT
dc.subject	ASSET MANAGERS
dc.subject	ASSET VALUES
dc.subject	ASSET-LIABILITY MANAGEMENT
dc.subject	AUDIT COMMITTEE
dc.subject	AUDITS
dc.subject	BANKING SECTOR
dc.subject	BASIS POINTS
dc.subject	BENEFICIARIES
dc.subject	CAPITAL MARKET
dc.subject	CAPITAL REQUIREMENTS
dc.subject	CASH FLOWS
dc.subject	CODE OF CONDUCT
dc.subject	COLLATERAL
dc.subject	CONFLICT OF INTEREST
dc.subject	COPYRIGHT CLEARANCE
dc.subject	COPYRIGHT CLEARANCE CENTER
dc.subject	CORPORATE BONDS
dc.subject	CREDIT RISK
dc.subject	CURRENCY
dc.subject	CURRENCY HEDGING
dc.subject	CURRENCY RISK
dc.subject	DEFICITS
dc.subject	DEGREE OF TRANSPARENCY
dc.subject	DEMOGRAPHIC
dc.subject	DERIVATIVES
dc.subject	DISCOUNT RATES
dc.subject	DOMESTIC CAPITAL
dc.subject	DOMESTIC CAPITAL MARKETS
dc.subject	DOMESTIC CURRENCY
dc.subject	EMPLOYEES PENSION
dc.subject	EMPLOYEES RETIREMENT
dc.subject	EQUITIES
dc.subject	EQUITY INDEX
dc.subject	EQUITY INVESTMENTS
dc.subject	EQUITY MARKET
dc.subject	EQUITY MARKET VOLATILITY
dc.subject	EQUITY MARKETS
dc.subject	EQUITY RETURNS
dc.subject	EXPOSURE
dc.subject	EXPOSURE TO RISKS
dc.subject	FAIR VALUE
dc.subject	FIDUCIARY RESPONSIBILITY
dc.subject	FINANCIAL ASSETS
dc.subject	FINANCIAL CRISES
dc.subject	FINANCIAL CRISIS
dc.subject	FINANCIAL INSTITUTIONS
dc.subject	FINANCIAL MARKETS
dc.subject	FINANCIAL STABILITY
dc.subject	FINANCIAL SYSTEM
dc.subject	FISCAL BURDENS
dc.subject	FLEXIBLE EXCHANGE RATE
dc.subject	FOREIGN CURRENCY
dc.subject	FOREIGN CURRENCY EXPOSURES
dc.subject	FOREIGN EXCHANGE
dc.subject	FOREIGN EXCHANGE MARKETS
dc.subject	FOREIGN INVESTMENT
dc.subject	FOREIGN MARKETS
dc.subject	FUND MANAGEMENT
dc.subject	FUND MANAGERS
dc.subject	GLOBAL MARKETS
dc.subject	GLOBAL PENSIONS
dc.subject	GLOBAL PRIVATE EQUITY
dc.subject	GOOD GOVERNANCE
dc.subject	GOVERNANCE MECHANISMS
dc.subject	GOVERNMENT BONDS
dc.subject	GROSS DOMESTIC PRODUCT
dc.subject	HEDGE FUND
dc.subject	HEDGE FUNDS
dc.subject	HEDGE RATIO
dc.subject	HEDGE RATIOS
dc.subject	HEDGES
dc.subject	HOLDING
dc.subject	HOLDINGS
dc.subject	HOME CURRENCY
dc.subject	HUMAN CAPITAL
dc.subject	HUMAN DEVELOPMENT
dc.subject	ILLIQUIDITY
dc.subject	INFLATION
dc.subject	INFLATION RATE
dc.subject	INFORMATIONAL ASYMMETRY
dc.subject	INSTITUTIONAL FUNDS
dc.subject	INSTITUTIONAL INVESTMENT
dc.subject	INSTITUTIONAL INVESTORS
dc.subject	INSURANCE
dc.subject	INTEREST RATE
dc.subject	INTEREST RATES
dc.subject	INTERNAL CONTROLS
dc.subject	INTERNATIONAL BANK
dc.subject	INTERNATIONAL DIVERSIFICATION
dc.subject	INTERNATIONAL INVESTMENTS
dc.subject	INVENTORY
dc.subject	INVESTING
dc.subject	INVESTMENT CAPABILITIES
dc.subject	INVESTMENT CAPITAL
dc.subject	INVESTMENT CHOICES
dc.subject	INVESTMENT CORPORATION
dc.subject	INVESTMENT DECISIONS
dc.subject	INVESTMENT FUNCTIONS
dc.subject	INVESTMENT FUND
dc.subject	INVESTMENT GOVERNANCE
dc.subject	INVESTMENT HORIZON
dc.subject	INVESTMENT MANAGEMENT
dc.subject	INVESTMENT MANAGER
dc.subject	INVESTMENT MANAGERS
dc.subject	INVESTMENT MARKETS
dc.subject	INVESTMENT OPPORTUNITIES
dc.subject	INVESTMENT POLICIES
dc.subject	INVESTMENT POLICY
dc.subject	INVESTMENT PORTFOLIOS
dc.subject	INVESTMENT PROCESS
dc.subject	INVESTMENT PROFESSIONALS
dc.subject	INVESTMENT RISK
dc.subject	INVESTMENT RISKS
dc.subject	INVESTMENT STRATEGIES
dc.subject	INVESTMENT STRATEGY
dc.subject	LEVEL OF RISK
dc.subject	LIABILITY
dc.subject	LIQUIDITY
dc.subject	LIQUIDITY MANAGEMENT
dc.subject	LOCAL CURRENCIES
dc.subject	LOCAL CURRENCY
dc.subject	MACROECONOMIC STABILITY
dc.subject	MARKET VALUES
dc.subject	MONETARY AUTHORITIES
dc.subject	MUTUAL FUND
dc.subject	OLD-AGE INCOME
dc.subject	OPPORTUNITY COSTS
dc.subject	OPTIMAL INVESTMENT
dc.subject	OUTPUT
dc.subject	OUTSOURCING
dc.subject	PAYMENT OBLIGATIONS
dc.subject	PENSION
dc.subject	PENSION ASSET
dc.subject	PENSION ASSETS
dc.subject	PENSION CONTRIBUTIONS
dc.subject	PENSION FUND
dc.subject	PENSION FUND ASSET
dc.subject	PENSION FUND ASSETS
dc.subject	PENSION FUNDS
dc.subject	PENSION LIABILITIES
dc.subject	PENSION PRODUCT
dc.subject	PENSION PRODUCTS
dc.subject	PENSION PROVISION
dc.subject	PENSION SYSTEM
dc.subject	PENSION SYSTEMS
dc.subject	PENSIONS
dc.subject	POLICY RESPONSES
dc.subject	POLITICAL RISKS
dc.subject	PORTFOLIO
dc.subject	PORTFOLIO ALLOCATION
dc.subject	PORTFOLIO RISK
dc.subject	PORTFOLIOS
dc.subject	PRICE DISCOVERY
dc.subject	PRIVATE EQUITY
dc.subject	PRIVATE PENSIONS
dc.subject	PRODUCTIVE INVESTMENT
dc.subject	PROVIDENT FUND
dc.subject	PRUDENTIAL REGULATION
dc.subject	PUBLIC ACCOUNTABILITY
dc.subject	PUBLIC COMPANY
dc.subject	PUBLIC PENSION
dc.subject	PURCHASING POWER
dc.subject	RATES OF RETURN
dc.subject	REAL ESTATE
dc.subject	REFORM PROGRAM
dc.subject	REGULATORS
dc.subject	REGULATORY AGENCIES
dc.subject	REGULATORY CONSTRAINTS
dc.subject	REGULATORY ENVIRONMENT
dc.subject	REGULATORY STANDARDS
dc.subject	REPLACEMENT RATE
dc.subject	REPLACEMENT RATES
dc.subject	RESERVE
dc.subject	RESERVE FUND
dc.subject	RESERVE FUNDS
dc.subject	RESERVES
dc.subject	RETIREMENT AGE
dc.subject	RETIREMENT SAVINGS
dc.subject	RETIREMENT SYSTEM
dc.subject	RETURN
dc.subject	RETURNS
dc.subject	RISK AVERSION
dc.subject	RISK DIVERSIFICATION
dc.subject	RISK FACTORS
dc.subject	RISK MANAGEMENT
dc.subject	RISK MANAGEMENT POLICIES
dc.subject	RISK MANAGEMENT SYSTEMS
dc.subject	RISK POOLING
dc.subject	RISK PREMIUMS
dc.subject	RISK PROFILE
dc.subject	RISKY ASSETS
dc.subject	SAFER ASSETS
dc.subject	SAFETY NETS
dc.subject	SAVINGS
dc.subject	SAVINGS ACCOUNTS
dc.subject	SECURITIES
dc.subject	SOLVENCY
dc.subject	SWAP
dc.subject	SWAPS
dc.subject	TAX
dc.subject	TRADING
dc.subject	TRADING COSTS
dc.subject	TRADING VOLUME
dc.subject	TRANSACTION
dc.subject	TRANSACTION COSTS
dc.subject	TRANSITION ECONOMIES
dc.subject	TRANSPARENCY
dc.subject	TREASURY
dc.subject	TRUSTEE
dc.subject	TRUSTEES
dc.subject	TURNOVER
dc.subject	USE OF DERIVATIVES
dc.subject	VALUATION
dc.subject	VALUATIONS
dc.title	Governance and Investment of Public Pension Assets : Practitioners' Perspectives
dc.type	Publications & Research :: Publication
dc.type	Publications & Research :: Publication