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Historic Investment Seminars for Trustees 2002
Probably the most important duty of a pension scheme trustee is managing the scheme's investments. The Myners review of UK institutional investment controversially stated that trustees often lacked the resources and expertise required to make informed judgments. Following that review, the Government has recommended raising the duty of care for trustees, requiring them to be familiar with investment matters when making decisions. The Government has further recommended that "where trustees elect to take investment decisions, they must have sufficient expertise and appropriate training to be able to evaluate critically any advice they take". Barnett Waddingham therefore designed this one-day investment training seminar, which took place in 2002, in order to provide trustees of defined benefit (and in particular "final salary") pension schemes with the knowledge required in order to appoint, manage and monitor their investment managers. In particular, the seminar enabled trustees to:
- Understand the requirements of the proposed new investment principles.
- Broaden their understanding of how to develop an investment strategy.
- Provide a greater understanding of the investment essentials needed to carry out their duties.
- Learn how to manage their investment manager and "ask the right questions".
- Become familiar with the language and fundamentals of investment management.
Barnett Waddingham, November 2001.