Figure 21 - CLMPC-PIAC Survey Barrier #7: Insufficient Trustee Support

• Not, 12%
• Somewhat, 27%
• Important, 39%
• Very, 22%

Highlights

• Well over half (61%) of PIAC respondents rated this barrier as important or very important
• Emphasized strongly by smaller pension funds (below $1 billion in assets)

Some PIAC Member Comments

• Knowledge "gaps" impair decisions of governing fiduciairies (i.e., trustees)
• Fiduciairies have insufficient time or resources to gain familiarity with private capital markets
• "For" and "against" positions are often equally uninformed
• Past experience is a factor

Source: CLMPC, 1998

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