News: Trustees under fire for lack of swaps wisdom.

Pensions Week,  April, 2008  

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Byline: Tom Willetts

Investment experts have broken ground to call for reform of the trustee model over concerns that sophisticated investing styles are being neglected.

Their complaint is that most trustees lack understanding of swaps and derivatives and are losing out on the chance to match assets to liabilities with higher returns.

Mitesh Sheth, director of liability investments at Henderson Global Investors, said swaps and derivatives were generally only used by the very largest schemes with in-house investment teams and those run by fiduciary managers, implemented ...

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