Article

Pension Fund Management and Investment Performance

Ian Tonks

in The Oxford Handbook of Pensions and Retirement Income

Published in print July 2006 | ISBN: 9780199272464
Published online September 2009 | | DOI: http://dx.doi.org/10.1093/oxfordhb/9780199272464.003.0023

Series: Oxford Handbooks in Business and Management C

 Pension Fund Management and Investment Performance

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The purpose of this article is to analyse the investment-management process of funds invested in pension schemes. It focuses particularly on measuring the performance of investment returns earned by pension funds. Although investment performance is considered within a global context, in fact only a small number of countries have sizeable funded pension schemes. The article shows the stock of pension assets for major developed countries in 1996. The United States, UK, and the Netherlands have large amounts of pension-fund assets relative to GDP in their economies, reflecting the importance of funded schemes in these countries. The article discusses the investment-management industry in general, and explains how it relates to the pensions-management industry. It then explains the measurement of investment returns, and introduces a number of risk-adjusted performance measures.

Keywords: pension fund; investment performance; pension schemes; GDP; United States

Article.  9114 words. 

Subjects: Business and Management ; Business Ethics

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