Nofsinger, John R.
[VerfasserIn]
;
Trimble, John L.
[Sonstige Person, Familie und Körperschaft];
Marr, Wayne
[Sonstige Person, Familie und Körperschaft]
Economically Targeted Investments and Social Investments
Anmerkungen:
Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments April 1995 erstellt
Beschreibung:
This paper documents the emergence of economically targeted investments (ETIs) and social investments on pension funds. We find that these dual purpose investments are usually concessionary and reduce portfolio investment return. When fiduciary standards are weakened, public pension fund assets become easily abused by political objectives. Pension beneficiaries suffer by reduced investment returns, increased underfunding, and unfriendly actuarial assumptions. We also review the recommendations and policy implications of the Department of Labor's Work Group on Economically Targeted Investments. This Work Group is trying to allow, even encourage, private pension funds to invest in ETIs