 Pension Fund Trustees:: Role and ContributionNada Kakabadse, Andrew Kakabadse and Alex Kouzmin European Management Journal, 2003, vol. 21, issue 3, 376-386 Abstract: Although Boards of Trustees have statutory authority over pension fund investment, how these boards exercise their responsibility is considered to vary unduly. Recently, pension fund trustees have been under pressure from government, sponsors and beneficiaries. The question being asked is, 'What is the trustee's role and contribution?'. In response, a UK-based study conducted at Cranfield School of Management explores, from the trustees' perspective, the nature of their role and contribution. The results of the study highlight that in addition to pension fund trustees being mindful of their fiduciary duties, under trust law, by acting at all times in their beneficiaries' best financial interests, they also make a valuable contribution to seven key areas of activity considered as critical to pension fund management. It is concluded that trustees are well capable of positionally responding to the challenges they face within the financial markets environment and utilize external resources, such as financial services consultants, effectively. Keywords: Pension; fund; trustees; Fiduciary; duties; Governance (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:eee:eurman:v:21:y:2003:i:3:p:376-386 Ordering information: This journal article can be ordered from Access Statistics for this article European Management Journal is currently edited by Michael Haenlein More articles in European Management Journal from Elsevier |
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