A 1997 investigation into the quality of pension fund governance uncovered a wide-spread board competency problem. This follow-on study analyzes the findings of a new survey on pension fund governance, to which an international group of 88 senior pension fund executives responded. Survey...

This article documents the organizational and compensation structures of 19 major pension funds around the world. Among the study's key findings are that more internal management is associated with greater fund size, lower operating costs, and higher net returns; internal compensation levels...