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

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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