Pension Risk Matters : Pension Risk News & Analysis : Investment Governance, Inc. : Pension Risk & Investment

The new financial reforms that have recently been signed into law mandate further transparency and changes in how derivatives are traded and settled. With over-the-counter financial instruments now a mainstay for most corporate and government treasury departments, pensions, endowments and foundations, an understanding of what the new law does and does not address is critical for anyone involved in derivatives reporting, valuation, hedging, capital-raising, credit risk assessment and risk management advisory.  The impact of these sweeping changes could greatly affect the use of derivatives by institutional investors and their counterparty banks. The changing role of the fiduciary promises increased liability across the board. At the same time, questions about clearing, counterparty risk and collateral management become more important than ever.

If you are affected by these changes, you will want to join AICPA and Investment Governance, Inc. on July 29th, 2010 from 2:00pm – 3:30pm EST for this timely discussion about the new challenges as these unprecedented financial reforms become reality. This Infocast will address service provider due diligence, collateral management, transacting derivatives hedges and enhanced disclosure. 

John Hudson of Hudson Consulting Group LLC leads this important discussion with Attorney Matthew Kerfoot (Counsel, Dechert LLP), Mr. David Boberski (Head of OTC Research and New Product Development, CME Group) and Dr. Susan Mangiero (founder of Investment Governance, Inc.) to address:

• How an exchanged cleared trade will differ from the current status quo with respect to collateral management and counterparty risk
• Who is responsible for making sure that fiduciary obligations are properly discharged as relates to risk management activities by the buy side and their asset managers, respectively
• Best practices imperatives when hiring, reviewing and possibly firing funds of funds and consultancies.

Click here to register for this timely and educational event. AICPA members will pay $65.

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Click here to join Investment Governance, Inc. for a timely discussion about the challenges of being a functional or de facto fiduciary for a pension plan, endowment or foundation. Learn how insurance, legal and governance experts are scrutinizing investment decision-makers and their service providers to understand if proper due diligence is being conducted. Good process can result in lower premiums and help to mitigate litigation, regulatory enforcement and reputation risk. Bad process is a recipe for disaster. Mr. Gerry Czarnecki, governance expert and member of the board of directors of State Farm Fire & Casualty, will be joined by Attorney John Horak, founder of the Nonprofit Organizations Practice Group for Reid and Riege, P.C., and Ms. Rhonda Prussack, EVP and Product Manager of Fiduciary Liability for AIG Executive Liability. Dr. Susan Mangiero, CEO of Investment Governance, Inc. will moderate this expert panel in a lively and timely discussion about:

1. Role of board members with respect to investment best practices
2. Managing the cost of liability insurance
3. Vetting service providers with respect to their internal controls
4. How to contain liability and D&O insurance premiums
5. Lessons learned from the 2008-2010 financial crisis.

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Investment Governance, Inc. posts information about our free June 21, 2010 webinar about BP, money manager due diligence and metrics for risk management. This current issue also links to commentary about actuarial numbers versus economic funding status, courtesy of Mr. Ryan McGlothin (head of U.S. operations for P-Solve). ERISA Attorney Andrew Oringer provides insights about the prudent expert standard of care and procedural process.

Click here to read the June 20, 2010 issue of Investment Best Practices Matters^SM.

Click here to sign up for Investment Best Practices Matters, our complimentary ezine about investment governance, due diligence and so much more.

If you would like a complimentary subscription to www.FiduciaryX.com, an investment best practices portal created and operated by Investment Governance, Inc., click here, call (203) 929-0011 or email our team today.

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Investment Governance, Inc. posts information about three (3) upcoming educational webinars, along with a link to an interview about longevity risk with Dr. David Blake, Director of the Pensions Institute. This current issue also lays out some selected research paper links about governance and new regulations.

Click here to read the June 13, 2010 issue of Investment Best Practices Matters^SM.

Click here to sign up for Investment Best Practices Matters, our complimentary ezine about investment governance, due diligence and so much more.

If you would like a complimentary subscription to www.FiduciaryX.com, an investment best practices portal created and operated by Investment Governance, Inc., click here, call (203) 929-0011 or email our team today.

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Investment Governance, Inc. posts information about three (3) upcoming educational webinars, along with a link to slides from the May 18, 2010 webinar about pension reporting and the May 21, 2010 webinar about liability-driven investing ("LDI"). This current issue also lays out some of the many red flags related to consulting and service provider due diligence, courtesy of Attorney Sherwin Kaplan.

Click here to read the May 29, 2010 issue of Investment Best Practices Matters^SM.

Click here to sign up for Investment Best Practices Matters, our complimentary ezine about investment governance, due diligence and so much more.

If you would like a complimentary subscription to www.FiduciaryX.com, an investment best practices portal created and operated by Investment Governance, Inc., click here, call (203) 929-0011 or email our team today.

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Investment Governance, Inc. posts an interview with Attorney Ruth Epstein (partner and securities expert with Dechert LLP) about the recent U.S. Supreme Court decision regarding reasonableness of mutual fund fees and factors used to evidence careful analysis of said fees. Mr. David Spaulding (founder of The Spaulding Group and publisher of The Journal of Performance Measurement) explains why the popular Sharpe Ratio must be augmented with other metrics and offers five elements of an effective performance review of asset managers. If you missed the complimentary educational webinar about new pension auditing and reporting rules, sponsored by Northern Trust Company, a link to the audio recording and slides is provided for your convenience.

Click here to read the May 20, 2010 issue of Investment Best Practices Matters^SM.

Click here to sign up for Investment Best Practices Matters, our complimentary ezine about investment governance, due diligence and so much more.

If you would like a complimentary subscription to www.FiduciaryX.com, an investment best practices portal created and operated by Investment Governance, Inc., click here, call (203) 929-0011 or email our team today.

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Don't forget to sign up for two complimentary webinars next week. We welcome having you join us for these educational events.

On May 18, 2010 from Noon to 1:00 PM EST, Ms. Peggy Bradley and Mr. Adrian Weidenfeller from Northern Trust's financial and regulatory consulting group will discuss benefit plan auditing and new reporting rules as a debrief of the AICPA Employee Benefit Plan conference being held this week. Click here to register.

On May 21, 2010 from Noon to 1:15 PM EST, Mr. Ryan McGlothlin (Managing Director and Head of P-Solve US) and Dr. Norman Ehrentreich (Principal at Ehrentreich LDI Consulting & Research) will explain the basics of Liability-Driven Investing and Dynamic Asset Allocation, talk about how to choose and vet asset managers and point out key elements of an LDI-DAA policy statement. Click here to register.

Email Editors@InvestmentGovernance.com if you have any questions or comments about each or both of the two events.

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Investment Governance, Inc. is a proud sponsor of the 2nd Annual Pension Plan De-Risking Summit on May 19 through 21, 2010 at the Warwick Hotel in New York City. I will be speaking about asset allocation and portfolio construction from a best practices perspective. I likewise have the pleasure of moderating a panel about investment manager selection with Mr. John Keane (Executive Director, Jacksonville Police & Fire Pension Fund), Ms. Emily Reid (Chief Compliance Officer, Illinois State Board of Retirement) and Mr. John Sopranuk (President, Board of Trustees - City of Aurora, Colorado Policy Money Purchase Plan).

You can check out the full conference agenda by clicking here. If you can attend, mention that you saw news of the conference at www.PensionRiskMatters.com and qualify for a discount. Contact Ms. Kristy Dineen for more details.

I hope to see you. It should be a lively event about an important topic.

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Investment Governance, Inc. posts an interview with Mr. Karlheinz Muhr (CEO of Cenario Capital) about outsourcing the risk management function, volatility indexing and fiduciary liability. Mr. Bruce Curwood (Director of Investment Strategy for Russell Investments, Canada) offers insights about how to establish a risk management process, adding that oversight is a core element of governance. FiduciaryX blogger and partner with Third Sigma Advisors LLC, Jennifer Cooper, writes about cost inefficiencies and multi-manager portfolios. Dr. Lucjan Orlowski explains why sovereign defaults impact economic growth and currency price fluctuations.

Click here to read the May 7, 2010 issue of Investment Best Practices Matters^SM.

Click here to sign up for Investment Best Practices Matters, our complimentary ezine about investment governance, due diligence and so much more.

If you would like a complimentary subscription to www.FiduciaryX.com, an investment best practices portal created and operated by Investment Governance, Inc., click here, call (203) 929-0011 or email our team today.

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Please join Investment Governance, Inc. and P-Solve Asset Solutions for a timely discussion about the nuts and bolts of Liability-Driven Investing ("LDI") and Dynamic Asset Allocation ("DAA"). Dr. Norman Ehrentreich (Principal at Ehrentreich LDI Consulting & Research) will speak with Mr. Ryan McGlothlin (Managing Director and Head of P-Solve US). Click here to join this complimentary webinar, sponsored by P-Solve Asset Solutions. This live interactive event will take place on Friday May 21 from Noon to 1:15 PM EST. The recorded event will be uploaded to www.FiduciaryX.com after May 21 if you cannot join us in real time.

Attendees will learn about:

1. Basics about LDI and DAA as part of the DB financial toolbox
2. Tips for getting started in creating an LDI and DAA strategy
3. Cost-benefit analysis of asset managers who rebalance
4. How a liability focus changes the service provider review process
5. Governance system to support funding level monitoring and control
6. Trading costs and risk management in an LDI-DAA world.

For those seeking even more information about liability-driven investing, ask your questions and provide comments by participating in the FiduciaryX.com Virtual Town Hall on Friday May 21 from 1:30 PM EST to 2:15 PM EST. A few minutes before 1:30 PM EST on May 21, simply click this link and you can join the Virtual Town Hall about LDI essentials. You must be a FiduciaryX subscriber to join the Virtual Town Hall. If you want a complimentary subscription and are an investment professional, complete our short form by visiting here.

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Dr. Susan Mangiero, CEO of Investment Governance, Inc., is pleased to join a panel of experts as part of the upcoming RIMS (Risk and Insurance Management Society) 2010 conference in Boston on April 28. Entitled "Coping Mechanisms: ERISA Best Practices," other speakers include MS. Pamela Britt Schneider (Director, Global Risk Management - Avon Products, Inc.), Ms. Rhonda Prussack (Executive Vice President and Product Manager, Fiduciary Liability Insurance - Chartis U.S.) and Rene E. Thorne (Partner/Resident Manager, Jackson Lewis). The program description is provided below.

Learn how to best to protect directors and officers in the event of plan-related litigation in this critical era of new litigation theories, legislation and aggressive enforcement. Employee Retirement Income Security Act (ERISA) litigation has spiked in the last year, spurred by plan investment losses, mass layoffs, benefit cutbacks and an invigorated plaintiff’s bar. New types of litigation, such as suits related to qualified default investments in 401(k) plans, are on the upswing. At the same time, leadership at the Department of Labor is spurring new enforcement strategies. Join this panel discussion of methods to avoid litigation and establish a record of procedural prudence, a critically important component in the defense of any ERISA litigation.

Click here for more details.

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Please join Investment Governance, Inc. CEO - Dr. Susan Mangiero - for a timely discussion with executives from Northern Trust, Numerix and Sapient to discuss the current regulatory environment, OTC (over-the-counter) derivative instrument valuation and collateral management. Attendees will learn more about:

1. Standardization in the OTC derivative industry to date
2. Current regulatory initiatives and compliance timeframes
3. Best practices for buy side OTC derivative instrument valuation
4. How to source quality market data
5. Dealing with valuation discrepancies
6. Importance of collateral management
7. Core elements of cross product margin policies and procedures
8. And much more!

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Investment Governance, Inc. - owner and creator of www.FiduciaryX.com - is pleased to present a new research service for institutional investors and their attorneys, auditors and advisors. According to CEO Dr. Susan Mangiero, CFA, FRM, "The FiduciaryX Virtual Reference Desk^SM is yet another productivity tool we offer to help asset owners such as pensions, endowments, foundations and the legal and financial counselors who assist them. Centered on six mission-critical areas to include Asset Allocation, Due Diligence, Fees, Fiduciary Liability, Risk Management and Valuation, we invite investment professionals to submit their questions online to our team of research librarians and subject matter experts."

Decision-makers such as executive directors, analysts and law firm partners who beta tested this now publicly available investment best practices tool all agree that the FiduciaryX Virtual Reference Desk offers an easy and invaluable mechanism for answering tough yet vital questions that are integral to documenting prudent decisions. One asset owner affirmed that "The Investment Governance, Inc. research team responded quickly in response to my question about reasonableness of fees. They sent along information that was hugely helpful, saved me time and found documents that I had not uncovered on my own." Another investment professional queried about the relationship between asset size and performance for policy-making purposes and was "more than pleased with the turnaround and quality of work." Other recent queries centered on topics such as hedge fund valuation guidelines, 401(k) provider rankings, use of over-the-counter derivatives as hedging instruments for asset-liability management purposes and what to consider when selecting investment consultants.

Interested persons can visit http://www.fiduciaryx.com/virtual_reference_desk or email Editors@InvestmentGovernance.com.

Whether to support litigation work or to demonstrate procedural prudence about Asset Allocation, Due Diligence, Fees, Fiduciary Liability, Risk Management or Valuation decisions, the FiduciaryX Virtual Reference Desk and related FiduciaryX Knowledgebase^SM are indispensable tools.

For those in need of more in-depth independent research, Investment Governance, Inc. provides customized knowledge process solutions to include:

• Tailored training for board and committee members, trustees, staff, auditors and attorneys
• Need-specific surveys
• Private label white papers
• Large-scale data assessment
• Development of practice aids
• Financial modeling and model reviews

Dr. Susan Mangiero states: "We are delighted to offer the breadth and depth of our subject matter resources to asset owners, their counsel and advisors. Benchmarking investment best practices and understanding how a particular fund stacks up against industry peers is a good defense but is smart business too. At a time when there is so much more scrutiny as to how investment decisions are made, anyone involved in stewardship of $25 trillion has to show that they are doing a great job. Even the best fiduciaries could potentially face trouble if they cannot demonstrate that they did their homework thoroughly and without conflicts of interest. Our independence and objectivity allows us to offer significant help in a timely manner."

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Check out our new look at www.FiduciaryX.com. If you like what you see (and we hope you do) and you are an institutional investor or attorney, advisor or service provider who works with asset owners (pensions, endowments, foundations, sovereign wealth funds, college plans), join the global investment best practices conversation.

• Click here for a complimentary subscription.
• If you would like to be considered as a FiduciaryX expert, email Editors@InvestmentGovernance.com or click here.

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Investment Governance, Inc. posts an interview with Mr. Samuel (Skip) Halpern, president of Independent Fiduciary Services, about five (5) new challenges with respect to investment stewardship. Read the Virtual Town Hall transcript with Mr. Ed Lynch, AIFA and Managing Director with 401(k) Advisors Group, LLC. He is joined by Ms. Lynne McAuley, former U.S. Department of Labor examiner, in a discussion about 401(k) fees, revenue-sharing and bundling. interview with Mr. Randy Schostag about hard-to-value investing. Read the transcript of Mr. Pascal Levensohn about institutional investors and venture capital investing.

Click to read the March 23, 2010 issue of Investment Best Practices Matters. 

Click here to sign up for this complimentary weekly ezine about investment governance, due diligence and so much more.

If you would like a complimentary subscription to www.FiduciaryX.com, call (203) 929-0011 or email our team today.

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Four years ago, valuation and risk professional Susan Mangiero, CFA, FRM launched the first blog devoted exclusively to the topic of pension risk and fiduciary implications. The blog (http://www.PensionRiskMatters.com) serves as a resource for trustees, board members, actuaries, auditors, consultants, money managers, attorneys and regulators who want to explore important ideas about pension risk issues and best practices.

According to Dr. Mangiero, CEO of Investment Governance, Inc., “The need for independent discourse about investment best practices is more relevant now than even four years ago when I created www.PensionRiskMatters.com. This award-winning blog covered topics such as internal controls, fiduciary breach, hedging, leverage and risk management well before Bernie Madoff and oversight failures hit the headlines. We’ve learned that risk comes in different forms. When ignored, it can spell the difference between disaster and retirement checks getting sent out on time.”

Since www.PensionRiskMatters.com launched on March 23, 2006, Dr. Mangiero and her team have spent considerable time listening to what institutional investors and their service providers and attorneys want in terms of data, education and independent research. As a result, Investment Governance, Inc. opened the doors to www.FiduciaryX.com on February 9, 2010. Focused on investment best practices research and education, this independent information portal consists of an online library, virtual reference desk, fiduciary-focused knowledge-base, expert blogs and a jam-packed calendar of webinars and discussions about topics such as how to deal with volatility, emerging global fiduciary standards, hard-to-value accounting rules and due diligence statutes. In addition, professionals who work for institutional investors such as pensions, endowments, foundations and college plans can enjoy social networking features such as Discussion Forums, Find a Peer and a Service Provider Ranking System.

Whether happily writing for www.PensionRiskMatters.com or working with other experts in the institutional investment industry on thought leadership pieces and training products for www.FiduciaryX.com, Dr. Mangiero asserts that “We are on the verge of a brave new world. There is no going back. Whether an individual is a de facto fiduciary or not, there will be continued pressure on buy side executives, their attorneys and service providers to evidence that everyone did their homework before allocating billions of dollars to any asset class or strategy. We are delighted to be part of that awareness campaign - showcasing countless decision-makers who are doing a great job but seldom have their work see the light of day. Real people are impacted when investment best practices are nowhere to be seen. We are excited to be able to make a difference with our education, training and research work and appreciate the many contributions of our like-minded colleagues in the investment industry.”

To learn more about FiduciaryX, visit http://www.fiduciaryx.com/video_tour, call (203) 929-0011 or email CustomerCare@InvestmentGovernance.com for a complimentary subscription. Also click here to sign up for a complimentary weekly ezine about investment best practices.

About Investment Governance, Inc.

Investment Governance, Inc. (formerly known as Pension Governance, Incorporated) is an independent research, analysis and training company. Our corporate mission is to empower institutional investors and their service providers with information and data that allows for improved decision-making with the fiduciary perspective in mind. Our services include consulting, conferences, communities, data analysis, training and benchmarking technology. Visit www.InvestmentGovernance.com, www.FiduciaryX.com and www.PensionRiskMatters.com for more information.

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Investment Governance, Inc. posts interviews with leading fiduciary liability insurance underwriters about risk management. Read an excerpt from an interview with Mr. Randy Schostag about hard-to-value investing. Learn about funding relief from Dr. Norman Ehrentreich.

Click to read the March 9, 2010 issue of Investment Best Practices Matters. 

Click here to sign up for this complimentary weekly ezine about investment governance, due diligence and so much more.

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Investment Governance, Inc. announces added premium content to www.FiduciaryX.com about internal controls, service provider due diligence, hard-to-value investing and fiduciary assessments. Read an excerpt from an interview with Dr. Michael Kraten about enterprise risk management. Learn the difference between a principles-based approach versus a standards-based approach from Mr. Carlos Panksep.

Click to read the March 4, 2010 issue of Investment Best Practices Matters.

To sign up for this complimentary ezine, click here.

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We are hugely excited to debut FiduciaryX.com, a unique knowledge-sharing platform for investment investors and their service providers. Two years in the making, we are continually busy at work, adding research, convenings with experts and new discussion forums to this multi-functional website.

• If you want a demo, please call (203) 929-0011 or view our short FiduciaryX video tour.
• If you think you or your colleagues qualify for a 90-day free trial, please email Sales@InvestmentGovernance.com.
• If you want to sign up for our complimentary weekly ezine entitled Investment Best Practices Matters, click here.
• If you would like to contribute content or blog, email Editors@InvestmentGovernance.com with your resume and topics of interest.

Click here to listen to me talk about FiduciaryX - what it is, why the website was created and who benefits. A transcript of this short video is provided below.

WHAT IS FIDUCIARYX? "Fiduciary X is a one-stop shop for information, research and analysis about investment best practices decision-making. It's a place where executives can get information about what the rest of the industry is doing, thought leadership on a variety of topics - asset allocation, investing in hedge funds, determining whether the fees paid to a money manager are prudent or not - and also be able to connect with peers."

WHY CREATE THIS WEBSITE? "It's a very scary time right now. Liability, both personal and professional, is soaring. People are paying higher insurance premiums. Lawsuits are skyrocketing. There are more rules and regulations than people can keep up with at this time. There's complexity in the investment world. There's market volatility. We've already seen that headline risk is a huge factor. People are very nervous about their jobs. We're trying to create - and we think we have succeeded with this website - a place that is safe for executives and their service providers to exchange ideas, to figure out what works and what doesn't work, to learn from past disasters and to do the very best job possible."

WHO BENEFITS FROM FIDUCIARYX? "We want to give recognition to the best in class leaders in the industry. The people who are doing everything right, who are taking a lot of extra steps to make sure that the decisions they make are comprehensive and carefully thought out. Right now the only people who get attention and a lot of press are the bad players. We need to learn from those individuals and organizations that are doing everything right on behalf of the ultimate individuals who pay the price for bad decisions."

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According to "Investment Best Practices Matters" (Volume 1, Issue 1, February 22, 2010) FiduciaryX.com subscribers will enjoy hearing from an array of industry luminaries in the next few weeks.

 The list below is a sampler of the numerous value-added programs available to FiduciaryX.com subscribers at no additional charge:

• Mr. Donald B. Trone, CEO - Fiduciary Ethos: Fiduciary Leadership
• Dr. Michael Kraten, President - Enterprise Management Corporation: SAS 70 and Service Provider Due Diligence
• Attorney Mitch Shames, Co-Founder - Harrison Fiduciary Group: Role of Independent Fiduciary
• Dr. Robert Maurer, Director of Behavioral Sciences - Santa Monica-UCLA Medical Center: Crisis Management
• Dr. Lucjan Orlowski, Professor of Economics - Sacred Heart University and Central Bank Consultant: Eurozone Monetary Policy and Investment Implications of Sovereign Default
• Mr. Pascal Levensohn, Managing Partner - Levensohn Venture Partners: Venture Capital Governance and Key Person Risk
• Attorney Timothy Selby, Partner - Alston & Bird, LLP: Hedge Fund Due Diligence and Hard to Value Challenges
• Mr. Seth Merrin, CEO - Liquidnet Holdings: High Frequency Trading.

This debut issue of "Investment Best Practices Matters," published by Investment Governance, Inc. also includes an interview with Mr. Wayne Miller about career risk and fiduciary reform, along with tips as to securities lending risk assessment.

Click here to read this debut issue and here to register for a complimentary subscription.

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The Investment Governance, Inc. editorial and research team is about to debut its weekly newsletter. If you would like a complimentary subscription to Investment Best Practices Matters^SM, click here to complete a short form.

We are beyond excited with our February and March 2010 array of programs and content offerings. If you want to join us as an expert contributor, email Editors@InvestmentGovernance.com.

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What is pension governance? More broadly, how does one characterize investment governance? Talk to a dozen institutional investors and you are likely to get a dozen different answers.

Brian Holden has an interesting take on this important query. In "Where there's a will: governance check" (Pensions Week, January 11, 2010), his suggestions include the following:

• Go beyond regulatory mandates to include best practices
• Balance the representation of stakeholders 
• Add knowledgeable individuals to decision-making bodies
• Introduce risk management principles to guide actions
• Manage pensions with beneficiaries and shareholders in mind
• Adopt a "dynamic and more businesslike approach"
• Establish a governance code "to provide guidance and assessment."

A lot of this sounds eerily familiar. I've been making many of the same points for years as have others. Increasingly, dissonant voices are coming together to speak a common language of reform. This is encouraging indeed.

Yesterday marks the official launch of FiduciaryX.com. Click to read "Investment Governance, Inc. Announces the Launch of FiduciaryX.com." We will be announcing all sorts of events and speakers in the coming weeks and months. On February 16, 2010 from 11:00 AM to Noon EST, we are holding a FiduciaryX Virtual Town Hall on the topic of investment governance. Email CustomerCare@InvestmentGovernance.com if you are not yet a subscriber but would like to participate in this exciting online event. We hope you will join us.

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Investment Governance, Inc. today announced the official launch of FiduciaryX^SM – a new research, education, data and social network portal for institutional investors and their service providers. Over two years in the making, this exciting online resource enables 24/7 access to investment best practices insights from experts and peers.

Designed by and for buy side professionals who control over $25 trillion in global assets on behalf of pensions, endowments, foundations, sovereign wealth funds, mutual funds, 529 college plans and family offices, www.FiduciaryX.com offers executives a cost-effective way to improve decision-making, ask questions, search documents, exchange ideas and potentially mitigate personal and professional liability. Subscribers enjoy access to the FiduciaryX Virtual Reference Desk, Knowledgebase and Service Provider Ranking System, industry leader blogs, discussion forums, online town halls, documents archive and much more.

Be part of an ongoing conversation or carry out a quick search about topics such as reviewing an asset manager's performance, setting up a derivatives overlay program, choosing a new investment consultant, assessing 401(k) fees, implementing an operational audit, dealing with new performance reporting rules or purchasing fiduciary liability insurance.

“Our team of programmers, researchers, educators and experts are passionate about using technology to promote transparency, enhance governance and empower institutional investors and their attorneys, advisors, actuaries and other service providers” said Dr. Susan Mangiero, founder and CEO of Investment Governance, Inc. “It is a true honor to work with those individuals and organizations that continue to enthusiastically support our mission of codifying best practices and enabling stewards to gain clarity about the elements that comprise procedural prudence. The paradigm is undeniably shifting towards greater fiduciary responsibilities and disclosures for buyers and sellers of products and services alike. We believe that the launch of FiduciaryX provides a golden opportunity to showcase superb ideas and recognize industry leaders whose diligence reflects a high standard of care on behalf of underlying beneficiaries such as retirees.”

To learn more about FiduciaryX, visit http://www.fiduciaryx.com/video_tour, call (203) 929-0011 or email Press@InvestmentGovernance.com.

Qualified investment decision-makers who are willing to provide a few hours of their time over the next several months are invited to become part of the FiduciaryX User Group. In exchange, these individuals will receive a courtesy one-year subscription to www.FiduciaryX.com. Email CustomerCare@InvestmentGovernance.com for more information.

About Investment Governance, Inc.

Investment Governance, Inc. (formerly known as Pension Governance, Incorporated) is an independent research, analysis and training company. Our corporate mission is to empower institutional investors and their service providers with information and data that allows for improved decision-making with the fiduciary perspective in mind. Our services include consulting, conferences, communities, data analysis, training and benchmarking technology. Visit www.InvestmentGovernance.com, www.FiduciaryX.com and www.PensionRiskMatters.com for more information.

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According to "Survey: Social media wins followers" by Gregory Crawford (Pensions & Investments, February 8, 2010), institutional investors and their service providers will continue to embrace the marriage of technology and community building. The article reports that 324 respondents express a belief that social networks are likely to become an important part of the job, going forward.

As Investment Governance, Inc. founder and chief enthusiast for web-enabled best practices tools that deliver cost and time savings, I say "hooray." Why? About a week ago, we quietly launched a combination online library, Q&A clearinghouse and business network for institutional investors and their attorneys, advisors, actuaries, asset managers and other service providers. Check out http://www.fiduciaryx.com/video_tour for a short demo video.

We will soon issue a press release about all of the neat functions that comprise this exciting research and education website. I can't wait to tell you about all of the terrific experts we have at the ready to answer your questions!

If you are a buy side executive, I am inviting you to provide feedback about content and features. In exchange for a few hours of your time over the next several months, you will be given complimentary access to www.FiduciaryX.com for a period of one year.

FiduciaryX is owned and operated by Investment Governance, Inc. and has been designed for busy professionals who, like you, want: (a) independent, bias-free and actionable information on over 100 topics (b) the opportunity to share lessons learned (c) the ability to download document templates (d) a chance to ask questions of experts via the FiduciaryX Virtual Reference Desk (e) a way to search a comprehensive Service Provider Directory and rank vendors (f) the ability to connect with each other in a secure place and so much more. 

Email CustomerCare@InvestmentGovernance.com or call (203) 929-0011 for more information. 

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Investment Governance, Inc. is pleased to announce the addition of two leading investment industry experts to its advisory board and the creation of a senior executive user group to further enhance its governance and risk management content and database offerings with the mid-January 2010 launch of www.FiduciaryX.com.

Members of the Investment Governance, Inc. Advisory Board bring depth, experience and a vast knowledge of critical industry "must know" topics. "Besides the amazing array of individuals currently serving as advisors, Ms. Marlys Appleton and Attorney Richard Slavin join us in our efforts to showcase fiduciary leaders and provide educational information to buy side executives such as trustees and board members and their advisors. I am delighted to have an opportunity to work with these two luminaries, both of whom have built careers around investment best practices and ethics advocacy," says Dr. Susan Mangiero, CEO and founder of Investment Governance, Inc.

As Vice President and Chair of the Sustainability Steering Committee for AIG Asset Management, Ms. Marlys M. Appleton oversees the governance structure for integrating environmental, social and corporate governance ("ESG") considerations into the investing process. Previous positions include leadership work with BlackRock Financial Management, MSCI Barra and UBS Securities. Ms. Appleton is an Advisory Board Member to the Association of Climate Change Officers and is a prolific contributor to leading financial texts.

Attorney Richard Slavin is the managing partner of the Westport, Connecticut office of the law firm of Cohen and Wolf, P.C. and chair of their securities group. Mr. Slavin practices in the areas of securities compliance, banking regulation and federal court litigation. Prior to joining Cohen & Wolf, Mr. Slavin served as the Director of the Connecticut Banking Department's Securities and Business Investments. Previously, he worked with the Ohio Division of Securities and the United States Securities and Exchange Commission.

Regarding the newly created FiduciaryX^SM User Group of buy side executives, Dr. Mangiero explains that "more than two years of market research and technology prototype design work will now be augmented with the invaluable feedback of pension, endowment and foundation decision-makers who have a clear idea as to what they need and want with respect to actionable information. We are grateful to the individuals who are committing their time to help us continue to improve what we think is already an exciting productivity tool."

As a combination one-stop shop for independent information and connecting with experts and peers, FiduciaryX offers a wide array of easy-to-use features for investment decision-makers and investment service providers alike. Subscribers can access the FiduciaryX Knowledgebase, Document Archive, News Archive, Virtual Reference Desk, blogs and chats with experts on over 100 different topics. Qualified buy-side executives can share lessons learned and tips on what works with new and existing colleagues around the world. Visualize a 24/7 conversation about topics such as reviewing an asset manager's performance, setting up a derivatives overlay program, choosing a new investment consultant, assessing 401(k) fees or purchasing fiduciary liability insurance from the comfort of your office. No airport delays. No budget overruns for one-way information. No aggressive sales pitches. FiduciaryX offers convenient, credible and comprehensive knowledge-sharing at a time when actionable information is essential for every investment executive.

To learn more about FiduciaryX, visit http://www.fiduciaryx.com/video_tour, call (203) 929-0011 or email Press@InvestmentGovernance.com. To read the full bios for the Investment Governance, Inc. Advisory Board members, visit http://www.fiduciaryx.com/advisory_board.

About Investment Governance, Inc.

Investment Governance, Inc. (formerly known as Pension Governance, Incorporated) is an independent research, analysis and training company. Our corporate mission is to empower institutional investors and their service providers with information, data and educational products that allows for improved decision-making, with the fiduciary perspective in mind. Our services include consulting, conferences, communities, data analysis, workshops and benchmarking technology. Visit www.InvestmentGovernance.com, www.FiduciaryX.com and www.PensionRiskMatters.com for more information.

Contacts

Investment Governance, Inc.
Susan Mangiero, 203-929-0011
Press@InvestmentGovernance.com

Permalink: http://eon.businesswire.com/news/eon/20100107006177/en/Fiduciary/Fiduciary-Standards/Governance

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If you are an investment decision-maker and represent a buy side organization, Investment Governance, Inc. would like to extend an invitation to you to kick the tires on a new and unique website for, and designed by, investment professionals. In exchange for a few hours of your time over the next several months, you will be given a complimentary subscription to www.FiduciaryX.com for a period of one year.

Set to launch in January 2010, FiduciaryX^SM is an added-value information portal and business network for analysts, executives, trustees and board members who are responsible for the financial well-being of pensions, endowments, foundations, college plans and so on.

FiduciaryX is owned and operated by Investment Governance, Inc. and has been designed for busy individuals who want: (a) an opportunity to search and retrieve independent, bias-free and actionable information on over 100 topics (b) the opportunity to share lessons learned (c) the ability to download document templates (d) a chance to ask questions of experts via the FiduciaryX Virtual Reference Desk (e) an easy way to search a comprehensive Service Provider Directory (f) a chance to rank vendors (g) the ability to connect with each other in a secure place and (h) so much more.

Our FiduciaryX User Group is nearly finalized. We would like to add up to fifty (50) more individuals who are excited to explore this indispensable problem-solving tool and be part of the efforts to make a difference in raising the investment "best practices" bar.

Click to watch a short video about FiduciaryX and learn more about the many benefits offered by FiduciaryX researchers, analysts, editors and subject matter experts.

If you have a few hours and are ready to receive and share information as a member of the FiduciaryX User Group, email Mr. Josh Lurie at JLurie@InvestmentGovernance.com or Dr. Susan Mangiero at Susan.Mangiero@InvestmentGovernance.com. If your schedule does not allow for a few hours a month for the next 12 weeks right now (as the FiduciaryX User Group explores this unique portal and business network even as subscribers do the same), click here to be notified when FiduciaryX launches in January 2010.

We'd love to hear from you!

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Investment Governance, Inc. recently announced Northern Trust as a founding sponsor of FiduciaryX^SM – a new information portal and business network for institutional investors and their service providers that will launch in January 2010. With Northern Trust’s sponsorship and the participation of leading governance, legal and investment professionals, FiduciaryX establishes an exciting productivity tool for investment decision-makers who control over $25 trillion in global assets on behalf of pensions, endowments, foundations, sovereign wealth funds, mutual funds, 529 college plans and family offices.

“The Investment Governance team appreciates Northern Trust’s committed support of our mission to offer a unique, one-stop ‘investment best practices’ information portal and business network for investment decision-makers and their service providers,” said Dr. Susan Mangiero, founder and CEO of Investment Governance, Inc. “I applaud Northern Trust’s willingness to embrace our vision of buy-side empowerment, promoting transparency and encouraging investment professionals to seek out independent information and network with their peers.”

As a combination one-stop shop for independent information and connecting with experts and peers, FiduciaryX offers a wide array of productivity tools for investment decision-makers and investment service providers alike. Subscribers can access the FiduciaryX Knowledgebase, Document Archive, News Archive, Virtual Reference Desk, blogs and chats with experts on over 100 different topics.

Qualified buy-side executives can share lessons learned and tips on what works with new and existing colleagues around the world. Visualize a 24/7 conversation about topics such as reviewing an asset manager's performance, setting up a derivatives overlay program, choosing a new investment consultant, assessing 401(k) fees or purchasing fiduciary liability insurance from the comfort of your office. No airport delays. No budget overruns for one-way information. No aggressive sales pitches. FiduciaryX offers convenient, credible and comprehensive knowledge-sharing at a time when actionable information is essential for every investment executive.

“FiduciaryX leverages the exciting medium of social networking, dedicating itself to bringing the knowledge of a community of like-minded individuals to our clients with terrific precision and appropriate context. This is a pioneering application in our industry,” said Peter Cherecwich, Chief Operating Officer of Corporate & Institutional Services at Northern Trust. “Supporting this independent resource is critical to our strategy of providing trust and transparency to our clients. The more informed everyone in our industry stays, the better decisions they can make and the better off the ultimate beneficiary or shareholder will be. In line with that commitment, Northern Trust will help provide subscriptions and sponsor educational events for our institutional clients to participate in the debut of www.FiduciaryX.com in early 2010.”

To learn more about FiduciaryX, visit http://www.fiduciaryx.com/video_tour, call (203) 929-0011 or email Press@InvestmentGovernance.com.

To access the original 12/15/09 Business Wire press release, click here.

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The following text is from an article I recently wrote for Mann on the Street (December 2009). As always, I welcome comments from readers. I am an avid believer in the notion that doing good means doing well. Click for the pdf version of "Investment Ethics: How to Make Money and Win Clients" by Dr. Susan Mangiero, CFA, FRM.

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IMPORTANT: If you are a buy side executive and would like to be part of the FiduciaryX User Group and thereby receive a complimentary one-year subscription, please contact Dr. Susan Mangiero at (203) 929-0011 or email CustomerCare@InvestmentGovernance.com. We will close the FiduciaryX User Group by November 20, 2009 so please respond quickly. There are a limited number of seats left.

On a related note, I am proud to announce the formation of a distinguished Advisory Board. An excerpt of the November 12, 2009 press release is shown below.

November 12, 2009 Press Release:

Investment Governance, Inc. (formerly known as Pension Governance, Incorporated) is pleased to announce the formation of an Advisory Board to help shape the future of investment governance. Their work will initially focus on a soon-to-launch information portal and business network for investment professionals, FiduciaryX^SM. Currently in beta, FiduciaryX will debut in a few weeks as a “go to” source for independent, bias-free content, data and networking with peers and experts.

Members of the Investment Governance, Inc. Advisory Board bring depth, experience and a vast knowledge of critical investment “must know” topics. “The opportunity to work with such a distinguished group of professionals is significant,” says Dr. Susan Mangiero, founder and CEO of Investment Governance, Inc. “We are doing exciting work at an exciting time. It is an honor and privilege to be working with enthusiastic and like-minded advocates of investment best practices and fiduciary standards."

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Investment Governance, Inc. (formerly known as Pension Governance, Incorporated) just unveiled the company’s new brand identity to include a redesigned logo, tagline and name. According to Dr. Susan Mangiero, CEO and founder, the changes reflect a continued emphasis on assisting institutional investors and their service providers with independent research, analysis and training. “Repositioning our identity is an exciting milestone for us as our team prepares to soon launch an array of best practices tools for those in charge of pensions, endowments, foundations, mutual funds, college plans, family offices and insurance company portfolios.”

In addition, Investment Governance, Inc. announces that it has expanded its Board of Directors to include three distinguished individuals with a wealth of experience in finance and governance - Mr. Martin D. Magida, Mr. Gerald R. Odening and Ms. Phoebe A. Wood.

Mr. Martin D. (“Marty”) Magida, CFA and Managing Director with Carter Morse & Mathias, has over 26 years of advisory experience in the technology, media, financial and business services industries. Prior to 2009, Mr. Magida was Group Head of Private Capital for the Trenwith Group, the investment banking arm of BDO Seidman, where he was responsible for placing debt and equity with institutional investors.

Mr. Gerald R. Odening (“Gerry”), CEO of advisory firm GRO Capital, has more than twenty-five years of experience in the education sector. Prior to 2003, Mr. Odening headed the knowledge services research practice for Jefferies & Company. As a Managing Director at JP Morgan Securities, Mr. Odening was in charge of equity research about education services companies. Mr. Odening has been recognized by Institutional Investor Magazine’s All-Star Analyst poll.

Ms. Phoebe A. Wood is the Chairman of the Board of Investment Governance, Inc. and is the recently retired Vice Chairman and Chief Financial Officer of Brown-Forman Corporation where she was a member of the Executive, Corporate Strategy, and Compensation and Benefits Committees. Her twenty plus year career in financial management includes work for Motorola and the Atlantic Richfield Company (now BP). Ms. Wood is a trustee of the University of Louisville, Smith College, Louisville Collegiate School and the Gheens Foundation. Ms. Wood serves on the board of Leggett & Platt Corporation.

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Please join me for a November 9, 2009 keynote presentation entitled "The Financial Crisis And The New Paradigm For Pension Plan Risk Management: How Can We Avoid Being Here Again?" Part of the IQPC's Pension Plan De-Risking Summit, I'll address topics that include:

• Assessing the damage caused to US pension plans by the 2008 financial crisis
• Distinguishing the winners from the losers: Examining the investment strategies of the funds that suffered least from last year’s market meltdown
• Understanding the role of alternative investments in risk-reduced asset allocation strategies
• To what extent has the financial crisis changed – if at all – the way pension plans measure, and manage, their risk?
• Looking at the clouds on the horizon: What kinds of future risk should US pension plans be most wary of?
• Determining the most effective asset allocation strategies for dealing with future financial challenges.

Investment Governance, Inc. (formerly known as Pension Governance, Incorporated) is a proud media sponsor of this two-day series of hands on workshops and presentations by experts. Developed in conjunction with an industry-leading advisory board, IQPC’s Pension Plan De-Risking event has been specifically designed to educate plan sponsors on the most effective strategies for diversifying effectively, bringing assets in line with plan liabilities, and reducing exposure to risky investments. 

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