A press release explained that few middle-range public pension funds previously benefitted from fiduciary and operational reviews because the costs were perceived as too high. The new service, PERFORMi, Public Employee Retirement Fiduciary and Operational Review Module for Investments, includes all key subjects typically included in a fuller scale investment best practices review.
“Every fund in the middle range of public pension funds now has an affordable option to evaluate its own investment program in accordance with best practices, and where it needs to enhance those practices, obtain independent advice on how to do that in a practical, cost effective manner. PERFORMi helps boards of trustees meet their responsibilities to prudently manage and monitor the fund,” said IFS Senior Vice President Steve Harding, in the announcement.More about Independent Fiduciary Services is at http://www.independentfiduciary.com.
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