Fiduciary duty: fantasy or fact?

In this challenging paper, Gordon Clark describes fiduciary duty as somewhat of a fantasy, because it looks to convention rather than forward to innovation in investment management.

Clark argues that the design and governance of investment management institutions is, actually, more important than honouring the principle fiduciary duty which, in the context of Anglo-American statute, is increasingly empty.

In the penultimate section of the paper he focuses on the mechanisms used to cultivate a regulatory regime that is long-term oriented and responsive to “the climate change challenge that confronts humanity”.

Fiduciary duty statute and pension fund governance

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GIC, Temasek eye trillions of growth in climate adaptation market

GIC, Temasek eye trillions of growth in climate adaptation market

Singapore’s two largest asset owners, GIC and Temasek, see attractive opportunities in climate adaptation solutions – a relatively underfunded area compared to decarbonisation. The former has already made selective adaptation investments and said the opportunity set across public and private debt and equity could increase to $9 trillion by 2050.

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EDHEC award-winning paper on dynamic allocation decisions

The Institute for Quantitative Investment Research (Inquire) Europe has recognised research by Professor Lionel Martellini, scientific director of EDHEC-Risk Institute developed in conjunction with Vincent Milhau, research engineer with EDHEC-Risk Institute. The paper, Dynamic Allocation Decisions in the Presence of Funding Ratio Constraints, can be accessed here. Inquire_Europe_Autumn_2009mrec4inarticleinline Sponsored Content scnative1 scnative2 scnative3

Towards a better benchmark for market valuations

Taking a three-year view of recent company earnings compared with price may be a more logical benchmark for market valuations, according to a paper from Wainwright Economics in the US. Wainright.pdfmrec4inarticleinline Sponsored Content scnative1 scnative2 scnative3

Global regulation: not the time to lose interest

This paper by Pantheon Ventures argues there is an excellent case for appropriate global regulatory reform, but warns it must be proportionate and non-discriminatory, and it must acknowledge that the financial system is global.mrec4inarticleinline Sponsored Content scnative1 scnative2 scnative3

Does Britain need a financial regulator?

Terry Arthur and Philip Booth from The Institute of Economic Affairs explore whether Britain actually needs a financial regulator, concluding among other things that the FSA “is simply the wrong model to generate appropriate rules and regulations”.mrec4inarticleinline Sponsored Content scnative1 scnative2 scnative3

SuperStream could save $20 bn: Ernst & Young

The $20 billion prize, provides a blueprint for implementing the Cooper Review-proposed SuperStream concept.

Revisiting global small caps

This research insight by MSCI, shows global small caps still exhibit distinct characteristics that provide opportunities for portfolio diversification and active management. mrec4inarticleinline Sponsored Content scnative1 scnative2 scnative3

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