Publication:
Governance and Investment of Public Pension Assets : Practitioners' Perspectives

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dc.contributor.authorRajkumar, Sudhir
dc.contributor.authorDorfman, Mark C.
dc.date.accessioned2012-03-19T09:36:19Z
dc.date.available2012-03-19T09:36:19Z
dc.date.issued2011
dc.description.abstractThe 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.en
dc.identifierhttp://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.doi10.1596/978-0-8213-8470-1
dc.identifier.isbn978-0-8213-8470-1
dc.identifier.urihttps://hdl.handle.net/10986/2553
dc.languageEnglish
dc.publisherWorld Bank
dc.rightsCC BY 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/igo
dc.subjectACCOUNTING
dc.subjectACCOUNTING STANDARDS
dc.subjectALTERNATIVE ASSET
dc.subjectASSET CLASS
dc.subjectASSET CLASSES
dc.subjectASSET GROWTH
dc.subjectASSET MANAGEMENT
dc.subjectASSET MANAGERS
dc.subjectASSET VALUES
dc.subjectASSET-LIABILITY MANAGEMENT
dc.subjectAUDIT COMMITTEE
dc.subjectAUDITS
dc.subjectBANKING SECTOR
dc.subjectBASIS POINTS
dc.subjectBENEFICIARIES
dc.subjectCAPITAL MARKET
dc.subjectCAPITAL REQUIREMENTS
dc.subjectCASH FLOWS
dc.subjectCODE OF CONDUCT
dc.subjectCOLLATERAL
dc.subjectCONFLICT OF INTEREST
dc.subjectCOPYRIGHT CLEARANCE
dc.subjectCOPYRIGHT CLEARANCE CENTER
dc.subjectCORPORATE BONDS
dc.subjectCREDIT RISK
dc.subjectCURRENCY
dc.subjectCURRENCY HEDGING
dc.subjectCURRENCY RISK
dc.subjectDEFICITS
dc.subjectDEGREE OF TRANSPARENCY
dc.subjectDEMOGRAPHIC
dc.subjectDERIVATIVES
dc.subjectDISCOUNT RATES
dc.subjectDOMESTIC CAPITAL
dc.subjectDOMESTIC CAPITAL MARKETS
dc.subjectDOMESTIC CURRENCY
dc.subjectEMPLOYEES PENSION
dc.subjectEMPLOYEES RETIREMENT
dc.subjectEQUITIES
dc.subjectEQUITY INDEX
dc.subjectEQUITY INVESTMENTS
dc.subjectEQUITY MARKET
dc.subjectEQUITY MARKET VOLATILITY
dc.subjectEQUITY MARKETS
dc.subjectEQUITY RETURNS
dc.subjectEXPOSURE
dc.subjectEXPOSURE TO RISKS
dc.subjectFAIR VALUE
dc.subjectFIDUCIARY RESPONSIBILITY
dc.subjectFINANCIAL ASSETS
dc.subjectFINANCIAL CRISES
dc.subjectFINANCIAL CRISIS
dc.subjectFINANCIAL INSTITUTIONS
dc.subjectFINANCIAL MARKETS
dc.subjectFINANCIAL STABILITY
dc.subjectFINANCIAL SYSTEM
dc.subjectFISCAL BURDENS
dc.subjectFLEXIBLE EXCHANGE RATE
dc.subjectFOREIGN CURRENCY
dc.subjectFOREIGN CURRENCY EXPOSURES
dc.subjectFOREIGN EXCHANGE
dc.subjectFOREIGN EXCHANGE MARKETS
dc.subjectFOREIGN INVESTMENT
dc.subjectFOREIGN MARKETS
dc.subjectFUND MANAGEMENT
dc.subjectFUND MANAGERS
dc.subjectGLOBAL MARKETS
dc.subjectGLOBAL PENSIONS
dc.subjectGLOBAL PRIVATE EQUITY
dc.subjectGOOD GOVERNANCE
dc.subjectGOVERNANCE MECHANISMS
dc.subjectGOVERNMENT BONDS
dc.subjectGROSS DOMESTIC PRODUCT
dc.subjectHEDGE FUND
dc.subjectHEDGE FUNDS
dc.subjectHEDGE RATIO
dc.subjectHEDGE RATIOS
dc.subjectHEDGES
dc.subjectHOLDING
dc.subjectHOLDINGS
dc.subjectHOME CURRENCY
dc.subjectHUMAN CAPITAL
dc.subjectHUMAN DEVELOPMENT
dc.subjectILLIQUIDITY
dc.subjectINFLATION
dc.subjectINFLATION RATE
dc.subjectINFORMATIONAL ASYMMETRY
dc.subjectINSTITUTIONAL FUNDS
dc.subjectINSTITUTIONAL INVESTMENT
dc.subjectINSTITUTIONAL INVESTORS
dc.subjectINSURANCE
dc.subjectINTEREST RATE
dc.subjectINTEREST RATES
dc.subjectINTERNAL CONTROLS
dc.subjectINTERNATIONAL BANK
dc.subjectINTERNATIONAL DIVERSIFICATION
dc.subjectINTERNATIONAL INVESTMENTS
dc.subjectINVENTORY
dc.subjectINVESTING
dc.subjectINVESTMENT CAPABILITIES
dc.subjectINVESTMENT CAPITAL
dc.subjectINVESTMENT CHOICES
dc.subjectINVESTMENT CORPORATION
dc.subjectINVESTMENT DECISIONS
dc.subjectINVESTMENT FUNCTIONS
dc.subjectINVESTMENT FUND
dc.subjectINVESTMENT GOVERNANCE
dc.subjectINVESTMENT HORIZON
dc.subjectINVESTMENT MANAGEMENT
dc.subjectINVESTMENT MANAGER
dc.subjectINVESTMENT MANAGERS
dc.subjectINVESTMENT MARKETS
dc.subjectINVESTMENT OPPORTUNITIES
dc.subjectINVESTMENT POLICIES
dc.subjectINVESTMENT POLICY
dc.subjectINVESTMENT PORTFOLIOS
dc.subjectINVESTMENT PROCESS
dc.subjectINVESTMENT PROFESSIONALS
dc.subjectINVESTMENT RISK
dc.subjectINVESTMENT RISKS
dc.subjectINVESTMENT STRATEGIES
dc.subjectINVESTMENT STRATEGY
dc.subjectLEVEL OF RISK
dc.subjectLIABILITY
dc.subjectLIQUIDITY
dc.subjectLIQUIDITY MANAGEMENT
dc.subjectLOCAL CURRENCIES
dc.subjectLOCAL CURRENCY
dc.subjectMACROECONOMIC STABILITY
dc.subjectMARKET VALUES
dc.subjectMONETARY AUTHORITIES
dc.subjectMUTUAL FUND
dc.subjectOLD-AGE INCOME
dc.subjectOPPORTUNITY COSTS
dc.subjectOPTIMAL INVESTMENT
dc.subjectOUTPUT
dc.subjectOUTSOURCING
dc.subjectPAYMENT OBLIGATIONS
dc.subjectPENSION
dc.subjectPENSION ASSET
dc.subjectPENSION ASSETS
dc.subjectPENSION CONTRIBUTIONS
dc.subjectPENSION FUND
dc.subjectPENSION FUND ASSET
dc.subjectPENSION FUND ASSETS
dc.subjectPENSION FUNDS
dc.subjectPENSION LIABILITIES
dc.subjectPENSION PRODUCT
dc.subjectPENSION PRODUCTS
dc.subjectPENSION PROVISION
dc.subjectPENSION SYSTEM
dc.subjectPENSION SYSTEMS
dc.subjectPENSIONS
dc.subjectPOLICY RESPONSES
dc.subjectPOLITICAL RISKS
dc.subjectPORTFOLIO
dc.subjectPORTFOLIO ALLOCATION
dc.subjectPORTFOLIO RISK
dc.subjectPORTFOLIOS
dc.subjectPRICE DISCOVERY
dc.subjectPRIVATE EQUITY
dc.subjectPRIVATE PENSIONS
dc.subjectPRODUCTIVE INVESTMENT
dc.subjectPROVIDENT FUND
dc.subjectPRUDENTIAL REGULATION
dc.subjectPUBLIC ACCOUNTABILITY
dc.subjectPUBLIC COMPANY
dc.subjectPUBLIC PENSION
dc.subjectPURCHASING POWER
dc.subjectRATES OF RETURN
dc.subjectREAL ESTATE
dc.subjectREFORM PROGRAM
dc.subjectREGULATORS
dc.subjectREGULATORY AGENCIES
dc.subjectREGULATORY CONSTRAINTS
dc.subjectREGULATORY ENVIRONMENT
dc.subjectREGULATORY STANDARDS
dc.subjectREPLACEMENT RATE
dc.subjectREPLACEMENT RATES
dc.subjectRESERVE
dc.subjectRESERVE FUND
dc.subjectRESERVE FUNDS
dc.subjectRESERVES
dc.subjectRETIREMENT AGE
dc.subjectRETIREMENT SAVINGS
dc.subjectRETIREMENT SYSTEM
dc.subjectRETURN
dc.subjectRETURNS
dc.subjectRISK AVERSION
dc.subjectRISK DIVERSIFICATION
dc.subjectRISK FACTORS
dc.subjectRISK MANAGEMENT
dc.subjectRISK MANAGEMENT POLICIES
dc.subjectRISK MANAGEMENT SYSTEMS
dc.subjectRISK POOLING
dc.subjectRISK PREMIUMS
dc.subjectRISK PROFILE
dc.subjectRISKY ASSETS
dc.subjectSAFER ASSETS
dc.subjectSAFETY NETS
dc.subjectSAVINGS
dc.subjectSAVINGS ACCOUNTS
dc.subjectSECURITIES
dc.subjectSOLVENCY
dc.subjectSWAP
dc.subjectSWAPS
dc.subjectTAX
dc.subjectTRADING
dc.subjectTRADING COSTS
dc.subjectTRADING VOLUME
dc.subjectTRANSACTION
dc.subjectTRANSACTION COSTS
dc.subjectTRANSITION ECONOMIES
dc.subjectTRANSPARENCY
dc.subjectTREASURY
dc.subjectTRUSTEE
dc.subjectTRUSTEES
dc.subjectTURNOVER
dc.subjectUSE OF DERIVATIVES
dc.subjectVALUATION
dc.subjectVALUATIONS
dc.titleGovernance and Investment of Public Pension Assets : Practitioners' Perspectivesen
dspace.entity.typePublication
okr.date.disclosure2011-04-25
okr.doctypePublications & Research::Publication
okr.doctypePublications & Research::Publication
okr.docurlhttp://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000333037_20110425010141
okr.globalpracticeMacroeconomics and Fiscal Management
okr.globalpracticeFinance and Markets
okr.globalpracticeTrade and Competitiveness
okr.guid856261468175789789
okr.identifier.doi10.1596/978-0-8213-8470-1
okr.identifier.externaldocumentum000333037_20110425010141
okr.identifier.internaldocumentum14101824
okr.identifier.report61313
okr.language.supporteden
okr.pdfurlhttp://www-wds.worldbank.org/external/default/WDSContentServer/WDSP/IB/2011/04/25/000333037_20110425010141/Rendered/PDF/613130PUB00Pub18344B009780821384701.pdfen
okr.topicFinance and Financial Sector Development::Mutual Funds
okr.topicMacroeconomics and Economic Growth::Investment and Investment Climate
okr.topicFinance and Financial Sector Development::Debt Markets
okr.topicPrivate Sector Development::Emerging Markets
okr.topicFinance and Financial Sector Development::Non Bank Financial Institutions
okr.unitSocial Protection Team (HDNSP)
okr.volume1 of 1
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