Watson Wyatt urges pension fund rethink

The consultancy calls for longer-term investment mandates, performance-based fees and better fund governance.

Watson Wyatt is calling for Hong Kong's pension funds industry to focus more on fund governance if it is to get out of the trap of obsessing over short-term returns at the cost of long-term asset performance.

On Wednesday it held its annual seminar measuring investment performance and delivered a highly ambitious presentation calling for fundamental changes in the way institutions manage their assets.

It was an extremely comprehensive presentation, says Mark Konyn, CEO at Allianz Dresdner Asset Management. They were showing their expertise.

The consultancy argues that pension funds suffer from a short-term outlook that is increasingly costly, and as a result are insufficiently diversified in their investments....

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