Comment: Allocation is too much responsibility for trustees

Being a trustee is a tough job, according to John Redwood

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Three of us at Evercore Pan-Asset have been trustees of investment funds. We try to look at investment problems from the trustee's viewpoint, as well as casting a professional eye over the investments. It has led us to worry about what a trustee is expected to do.

Many trustee boards end up making the crucial asset allocation decisions. Larger funds tend to have several investment managers. They all ask for specific investment mandates, which usually get the...

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