Figure 20 - CLMPC-PIAC Survey Barrier #6: How to Measure Long Term Performance?

• Not,
• Somewhat,
• Important,
• Very,

Highlights

• Close to two-thirds (64%) of PIAC respondents rated this barrier as important or very important
• Emphasized strongly by largest pension funds (above $5 billion in assets)

Some PIAC Member Comments

• Traditionally, pension funds measure asset performance in the short-term
• Difficult to adapt conventional benchmarks (e.g. TSE 300)
• Many pension fiduciaries, agents, advisers uncomfortable with illiquidity
• Regular turnover of governing/managing fiduciaries is a factor

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