Fund Manager and Custodian Selection, Oversight and Performance Monitoring

Course overview

Many recovered asset funds and public funds outsource investment management and custody. That can bring expertise, but only if the right providers are chosen, contracts are tight and oversight is active. Weak selection and passive monitoring have led to high fees, poor performance and conflicts of interest in public funds around the world. This fund manager selection course equips trustees and staff to manage providers well.

Participants learn when to outsource, how to define mandates and how to run a fair and competitive selection, including requests for proposals, evaluation criteria, interviews and due diligence. They study investment management and custody agreements, fee structures and service levels. Oversight takes up the second half: monitoring performance against benchmarks and mandates, reviewing compliance and risk reports, holding review meetings and deciding when to put a manager on watch or terminate. The regional regulatory framework for fund managers and custodians is covered throughout.

Participants leave able to select, contract and oversee fund managers and custodians in a way that protects the fund.

What you will be able to do

• Decide when and what to outsource
• Write clear investment mandates
• Run a fair, competitive selection process
• Negotiate investment management and custody agreements
• Monitor performance, compliance and risk
• Take timely action on underperforming providers

Who should attend

For trustees, investment committee members and staff who appoint and monitor external fund managers and custodians.

• Trustees and board members
• Investment committee members
• Fund managers in public bodies
• Procurement officers
• Legal advisers
• Investment and risk officers

Course outline

Fees are per participant in US dollars and cover tuition, course materials and your certificate. Travel and accommodation are not included.