An Evaluation of Investment Governance in London Local Government Pension Schemes: A Discussion Paper for Stakeholders to the London Funds
Cass Business School Discussion Paper, 2012
42 Pages Posted: 18 Jun 2020
Date Written: November 1, 2012
The purpose of this Report was to identify areas that might be considered in a full benchmarking study of the investment governance of the 34 London Local Government Pension Schemes (LGPSs). The preliminary results of our research indicated that in certain cases key decision-makers are influenced as much – and possibly more – by behavioural and political factors than by the current investment governance framework, which our research indicates can be poor. One possible conclusion from our research, therefore, is that there might be a connection between poor investment governance and the increasing trend for schemes to defer the costs of their liabilities into the future.
JEL Classification: G22
Suggested Citation: Suggested Citation