Preface
A number of years ago the Scholarship, Research and Education Foundation established by TEXPERS (Texas Public Employees Retirement System Association) asked me to set up a training and certification program for public retirement fund trustees and executives. They saw that one of the problems shared by these public employees (and even foundation board members) is that they seldom have any training or backgrounds in managing an investment fund. This is not an indictment, just a fact: after a career as a fireman, cop, CFO, doctor, or lawyer, people are selected to become a member of a board and then to the investment committee. What to do? How to do it?
Most, especially those not familiar with the function of an investment committee will ...
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