Crashing share prices in the bear market did not cool the relationship between pension schemes and their fund managers, according to a joint survey of members of the IMA and the NAPF.
Despite most schemes reviewing fund performance on a quarterly basis, the average time in place of a pension scheme fund manager is five years, the associations say. The survey found some 39% of fund managers have remained in place for more than 10 years. Some 75% of mandates have been in place for more than three years, according to responses from the 40 IMA responses analysed. Still, despite the common ground, while two-thirds of IMA members surveyed feel mandates create a “short-termist” approach to management of pension assets, just 29% of the 100 NAPF members feel the same. ...
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