Risk Management, LDI and Dynamic Asset Allocation

On May 21, 2010, Dr. Susan Mangiero talked to Mr. Ryan McGlothin (head of P-Solve US) and Dr. Norman Ehrentreich (LDI consultant and author) about the nuts and bolts of setting up a Liability-Driven Investing (“LDI”) program for plan sponsors, economic versus actuarial funding metrics and considerations for assessing LDI overlay asset managers. Funding for this educational webinar was provided by P-Solve Asset Solutions.


OTC Derivatives - Industry Challenges

On April 20, 2010, Dr. Susan Mangiero interviewed experts about the use of over-the-counter ("OTC") derivatives by institutional investors. Mr. Chris Ekonomidis (Senior Manager, Sapient Corporation) addressed the regulatory environment. Mr. Mark Hadley (Financial Engineer, Numerix LLC) talked about model risk. Mr. Judson Baker (SVP, Northern Trust Corporation) explained best practices as relates to collateral management.

 


Mutual Fund Fees and Fiduciary Duties

On April 20, 2010, Mr. Christopher Westfall interviewed Attorney Ruth Epstein about the Gartenberg standard, the U.S. Supreme Court decision in Jones v. Harris Associates and the fiduciary obligations of mutual fund board members, along with duties of defined contribution plan committee members who may select mutual funds for their benefit programs.

Attorney Epstein is a partner in the Financial Services practices of Dechert LLP. She has over 30 years of corporate and securities legal experience, including leadership work with the U.S. Securities and Exchange Commission. Attorney Epstein is recognized as a leading lawyer for investment funds.


Performance Pitfalls

On April 20, 2010, Mr. Christopher Westfall interviewed Mr. David Spaulding about investment performance metrics, common mistakes in assessing returns and best practices for risk-adjusted returns analysis.

Mr. Spaulding is the president and founder of The Spaulding Group, Inc. and the publisher of The Journal of Performance Measurement. Mr. Spaulding is a member of the Investment Performance Council and author of several publications on performance measurement. He co-edited Readings in Fixed Income Attribution.


Institutional Investing and Monetary Policy Crises

On April 13, 2010, Mr. Chris Westfall interviewed Dr. Lucjan Orlowski about the Greek debt crisis, sovereign bond risks and global monetary policy implications for institutional investors.

Dr. Lucjan Orlowski is professor of economics and international finance in the Department of Economics and Finance with Sacred Heart University, John F. Welch College of Business. Dr. Orlowski's is a research professor at Halle Institute for Economic Research in Halle, Germany. He is also a senior fellow at the Center for Economic and Social Research in Warsaw and a research fellow at the William Davidson Institute at the University of Michigan.


Challenges of Hard-to-Value Investing

On March 3, 2010, Dr. Susan Mangiero talked to Mr. Randall (Randy) Schostag about standards of value, the type of information that institutional investors should request and review, conflicts of interest and the role of independent pricing agents.

Mr. Randall (Randy) Schostag is the founder of the Minnesota Business Valuation Group and a seasoned appraiser, having rendered opinions of value for numerous private equity clients and their limited partners.


High Frequency Trading and Dark Pools

On March 2, 2010, Dr. Susan Mangiero talked to Mr. Seth Merrin about trading costs, algorithmic models, high frequency trading, liquidity and dark pools.

Mr. Seth Merrin is the founder and CEO of Liquidnet Holdings. Mr. Merrin was named 2008 Ernst & Young’s "Entrepreneur of the Year – Metro New York in Financial Services" and ranked 7th among Institutional Investor magazine's 2008 Online Finance 40.

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The FiduciaryXSM website, owned and operated by Investment Governance, Inc., provides independent and actionable information, data and education products for institutional investors. Focused on "best practices" and investment process standards, FiduciaryXSM deliverables focus on topics such as pension risk management, asset allocation, ERISA compliance, mutual fund board education, endowment and foundation strategies, hedge fund investing, investment ethics, hard to value pricing, fiduciary duties, investment governance leadership, 401(k) fee analysis, investment litigation, securities lending, portfolio diversification, fiduciary liability insurance, socially responsible investing and much more.

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