Pension plan investment management mandates: An empirical analysis of manager selection Parwada, Jerry en_US Faff, Robert en_US 2021-11-25T12:46:57Z 2021-11-25T12:46:57Z 2005 en_US
dc.description.abstract We examine the impact of several factors on the selection of portfolio managers for Australian pension plan mandates. Performance measures do not affect the probability of a mandate allocation. Pension sponsors tend to choose managers with top-quartile five-year performance who have recently beaten a market benchmark. Management expenses have a negative impact on a manager’s chances. A surprising result is sponsors’ tolerance for high portfolio trading costs. Mandates are spread across manager investment styles. The style and institutional attributes of preferred managers suggest trustees’ reputation and prudential concerns matter, particularly for the aggregate annual mandate allocations. en_US
dc.identifier.issn 0920-8550 en_US
dc.language English
dc.language.iso EN en_US
dc.rights CC BY-NC-ND 3.0 en_US
dc.rights.uri en_US
dc.source Legacy MARC en_US
dc.subject.other delegated portfolio management en_US
dc.subject.other Pension plan mandates en_US
dc.subject.other fund managers en_US
dc.title Pension plan investment management mandates: An empirical analysis of manager selection en_US
dc.type Journal Article en
dcterms.accessRights metadata only access
dspace.entity.type Publication en_US
unsw.description.notePublic Copyright 2005 Springer Science + Business Media, Inc. en_US
unsw.relation.faculty Business
unsw.relation.ispartofissue 1 en_US
unsw.relation.ispartofjournal Journal of Financial Services Research en_US
unsw.relation.ispartofpagefrompageto 77-98 en_US
unsw.relation.ispartofvolume 27 en_US
unsw.relation.originalPublicationAffiliation Parwada, Jerry, Banking & Finance, Australian School of Business, UNSW en_US
unsw.relation.originalPublicationAffiliation Faff, Robert en_US School of Banking & Finance *
Resource type