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Measurement of Pension Fund Investment Performance

Published online by Cambridge University Press:  11 August 2014

D. P. Hager
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Extract

In the United States the theoretical and practical aspects of the measurement of investment performance have been well researched, and the investment managers and pension fund trustees are accustomed to having a battery of statistics available on the performance of a pension fund.

By contrast, in the United Kingdom, attention has only really been given to this subject in this decade. It has taken time for both investment managers and trustees to appreciate the need to measure performance and to move away from a solely qualitative assessment of the ability of investment managers to one involving a quantitative element.

There are just a few papers by U.K. authors on the investment performance of pension funds and the Institute has discussed the subject only once. This was in November 1976 when J. P. Holbrook presented a comprehensive paper covering both theoretical and practical aspects of performance measurement.

Type
Research Article
Information
Journal of the Staple Inn Actuarial Society , Volume 24 , November 1980 , pp. 33 - 64
Copyright
Copyright © Institute of Actuaries Students' Society 1980

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References

REFERENCES

Holbrook, J. P. ‘Investment Performance of Pension Funds’ J.I.A. 104, Part 1, No. 425.Google Scholar
Henfrey, A. W., Albrecht, B. and Richards, P. ‘The U.K. Stockmarket and the Efficient Market Model—A Review’ The Investment Analyst No. 48.Google Scholar
Machol, R. E. and Lerner, E. M. ‘Risk, Ruin and Investment Analysis’ Journal of Financial and Quantitative Analysis, 1969.CrossRefGoogle Scholar