The Plight of the Pension Fund Officer

5 Pages Posted: 22 Feb 2018

Date Written: February 15, 1988


Pension fund officers, the poor unlucky souls who run pension funds, are inundated with good real or simulated investment performance records brought to them by used car salesmen investment managers. This is no accident – failure does not sell – either to the pension fund officers themselves or their higher ups.

Many pension fund officers choose investment strategies from among the most attractive performance reccords presented to them – expecting similar performance going forward. These pension fund officers are likely to be disappointed. Subsequent performance, even if positive, is unlikely to be nearly as good – and there is not much pension fund officers can do to avoid it.

Keywords: performance measurement, manager choice, pension fund management

JEL Classification: G00,G10,G11

Suggested Citation

Ferguson, Robert, The Plight of the Pension Fund Officer (February 15, 1988). Available at SSRN: or

Robert Ferguson (Contact Author)

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