NAPF Investment Conference 2007 - Gore urges schemes to dump short-term targets

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SCHEMES must dump short-term reward targets for managers if they are to properly match their liabilities and help tackle climate change, the National Association of Pension Funds investment conference has heard.

Former US vice president Al Gore told delegates there is a “brutal tension” between the long term strategy of pension funds and the common practice of paying managers for quarterly performance. ...

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