The Independent Fiduciary: Investing for Pension Funds and Endowment Funds (Frontiers in Finance Series) (Hardcover)

~ (Author) "During a particular 10-year interval, let's say our fund earned a return of 10% per year..." (more)
Key Phrases: master trustee, fiduciary committee, target asset allocation, United States, Board Designated, Long-Term Capital (more...)

Editorial Reviews

Product Description

Praise for The Independent Fiduciary "Rusty Olson is a pioneer and leader in wise investing for pension funds. Institutional executives in all nations should study his experienced advice." —John M. Templeton Founder, Templeton Investment Counsel "Rusty Olson has provided a reader-friendly tour through the complex jungle of investing, pointing out both the opportunities and pitfalls that lie before the independent fiduciary. At once constructive and skeptical, his common sense—particularly the wit and wisdom of Chapter 18, ‘Aphorisms’—shows through this thoughtful book." —John C. Bogle Founder, The Vanguard Group "Rusty Olson is one of the best managers the fund sponsor side has ever produced. He understands the risk and reward of diverse asset classes and has the stomach to follow his convictions. He is in every sense a professional investor." —William Crerend Founder, Evaluation Associates, Inc. "I can highly recommend Rusty Olson’s new book on the basis of almost twenty years’ experience with him. He touches on all the bases of possible intelligent investment, by no means limiting his responsibilities to the active market of the stock exchange, NASDAQ, etc. It would seem essential that every library in the country should want to own this volume." —Roy R. Neuberger Founder, Neuberger Berman "Rusty Olson is a wise fiduciary. Drawing on his vast experience he introduces the language, concepts, and issues that every fiduciary must understand and suggests solutions to many thorny problems." —Barr Rosenberg Chairman, AXA Rosenberg Group LLC "Rusty Olson has been one of the most intense students and brilliant executors of investment opportunities and risk assessment for retirement funds. BARRA RogersCasey has had the honor to serve Rusty and Eastman Kodak for over twenty years—always learning from him. The Independent Fiduciary will evolve into Retirement Fund Investing 101 for newcomers and experienced practitioners alike." —John F. Casey Chairman, BARRA RogersCasey

From the Inside Flap

"The Independent Fiduciary is a wonderfully informative must-read for anyone acting as a fiduciary. These pages are filled with first-rate commonsense gems about long-term investing." —David Fisher, Chairman Capital Guardian Trust Company Pension and endowment fund investing is one of today’s fastest-growing investment categories, yet there continues to be a surprising lack of practical guides and references to tax-free institutional investing principles and practices. Written by one of North America’s most successful pension fund directors, The Independent Fiduciary fills that gap in the literature. Drawing on more than twenty-five years of experience in pension investments worldwide for Eastman Kodak, as well as with several endowment funds ranging in value from $50,000 to $100 million, Rusty Olson shares what he knows about all aspects of this complex and unique type of investing in a systematic, step-by-step fashion. While the book explores an array of best practices and proven techniques, it is not an investment manager’s "cookbook" offering one-size-fits-all strategies. Rather, it describes the principles and tools needed to develop a solid investment program and challenges you to tailor them in the most effective way for your organization. The Independent Fiduciary gives you practical guidance on all aspects of tax-free institutional investing, including:

• Setting objectives
• Valuing investments and calculating rates of return
• Determining and managing risk
• Asset allocation
• Real estate and alternative asset classes
• Selecting and managing investment managers
• Negotiating private agreements
• Measuring and managing liabilities
• Coordinating pension programs of overseas subsidiaries
• Recognizing annual income from endowment funds

The Independent Fiduciary is an indispensable working resource for pension and endowment fund managers, finance executives, institutional investors who service pension and endowment funds, and anyone who sits on a pension or endowment fund committee.

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Product Details

• Hardcover: 336 pages
• Publisher: Wiley (October 11, 1999)
• Language: English
• ISBN-10: 0471353876
• ISBN-13: 978-0471353874
• Product Dimensions: 9.1 x 6.3 x 1.1 inches
• Shipping Weight: 2.2 pounds (View shipping rates and policies)
• Average Customer Review: No customer reviews yet. Be the first.
• Amazon.com Sales Rank: #1,171,493 in Books (See Bestsellers in Books)