volume 6, issue 3, P451-545 2000
DOI: 10.1017/s1357321700001884
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T.M. Hodgson, S.J. Breban, C.L. Ford, M.P. Streatfield, R.C. Urwin

Abstract: Investment efficiency is a function of the risk, return and total cost of an investment management structure, subject to the fiduciary and other constraints within which investors must operate. Institutional investors implement their investment policies through investment management structures. In this paper the aim is to enhance the investment management structure by broadening the financial objectives, by recognising the effect of behavioural issues and by incorporating governance constraints. We therefore …

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