A lot has been written about the superiority of the “Canadian model” for managing pensions, but can a value be assigned to this organisational design structure?
The equity risk premium will reflect long-term averages, based in part on a Financial Analysts Journal article that shows buybacks are now top drivers of equity returns, replacing dividends.
Keith Ambachtsheer says net value added for members, not absolute cost, is the way to evaluate funds, and points to a report from Australia’s Productivity Commission as a sensible blueprint.
The better aligned a society’s financial institutions are with its goals and ideals, the stronger and more successful the society will be.
Pension fund executive pay varies widely around the globe, with differences based on internal management and alternatives exposures. Amanda White examines pension fund executive pay.
Keith Ambachtsheer’s fourth book, to launch next month, tackles the persistent problems in pension governance, design and investment, including the sizeable aspiration/implementation gap.
Keith Ambachtsheer, Director Emeritus, Rotman International Centre for Pension Management argues that good governance begins with having “the right team in the room.” This means robust human resource teams, the ability to address issues around understaffing and raising the effectiveness of board members. “Board governance is still a work in progress today,” he argues, speaking... Read more »
How much has pension fund governance changed in the past 16 years? Not much! A survey of pension fund governance by Keith Ambachtsheer and John McLaughlin, which asked respondents the same questions in 1997, 2005 and 2014 reveal that the same “sources of excellence shortfall” exist today as they did 16 years ago. Pension fund... Read more »
There is a lot more work to do in raising the quality of governance of pension boards around the world, Keith Ambachtsheer told a conference of Australian superannuation fund trustees and staff last week. “We have to stop thinking about organisational needs and think about member needs. The business model must invert from serving organisational... Read more »
Keith Ambachtsheer’s lead article in the Fall 2014 edition of the Rotman International Journal of Pension Management, takes readers through an historical and logical journey that supports the case for long-termism. Importantly he validates this with four high-profile investor case studies which demonstrate that a long-term view benefits society but also the investors, willing to... Read more »
PFZW, the €150 billion ($205 billion) Dutch pension fund for the health care industry, has created a new investment framework which is the result of an 18-month soul-searching journey under a project called “The White Sheet of Paper”. The framework will translate into policy and implementation steps starting from 2015. Jaap van Dam, PGGM´s chief... Read more »
A decade since the formation of the Rotman International Centre for Pension Management is a good time to review the organisation’s raison d’etre. Amanda White spoke to ICPM chair, Barbara Zvan, chief investment risk officer of Ontario Teachers’ Pension Plan, and the outgoing and incoming executive directors, Keith Ambachtsheer and Rob Bauer. “There is... Read more »