0 a person, often one of a group, who controls property and/or money for another person or an organization: --
the museum's board of trustees
1 a person, often one of a group, who controls property or money for the benefit of another person or an organization: --
2 a person or organization legally chosen to work alone or as part of a group to manage money or property for others: --
Some authors investigate how the investment performance of pension funds is related to particular governance variables such as the composition of the board of trustees.
Firstly, trustee representatives in retail funds are typically employees of the retail sponsor group.
While cautious of the sample size underpinning these conclusions, it was also found that consistent trustees had at least undergraduate education and relevant professional qualifications.
Furthermore, trustees, on a regular basis, should obtain educational training with a view to providing and improving core competencies of importance for pension fund management.
First, it was shown that many of our pension fund trustees have shallow and often non-exponential discount functions.
Second, while most trustee discount functions had an identifiable shape, even if not always exponential in character, some did not.
Invisible costs are expected to be high when trustee governance is poor.
In this respect, consultants have a vital role in representing trustees' best interests at the nexus of contracts.
