An article published in PMI News on regular review of investment consultants. The article includes a case study by Eon Pension Scheme. To read the article click here.
An article published in Investment & Pensions Europe on the competence of investment competence. To read the article click here
An article, published in Public Sector Review, that sets out how to monitor your investment consultant.
An article by Roger Brown for Public Service Review that looks at some of the high level issues in investment consultant selection.
Blacket Research, Unpublished
This unpublished report updated the earlier Fund Manager Selection Survey Report by Blacket Research. It utilised a larger universe of UK short lists and was able to measure these over a longer period. The Update Report confirmed the results of the earlier survey. Notably, that consultants added no value when compared to random selection of short lists in the shorter term. It also looked in more detail at the ability of consultants to add value to the manager selection process in the longer term. Based on the larger data sample, the report concluded that no added value was observed in the longer term. The results in the earlier report had been distorted by a decline in the performance of consultants when selecting fund managers after 2002. A number of reasons are suggested for this decline.