Pension Fund Capitalism

there are a number of original insights ... This is an excellent book to read to become familiar with the main public policy issues in institutional investment management and pensions. ... Something of a tour de force is the way in which Clark brings in Krugman's work on economic geography (1991) to explain the structure of the investment management industry.'Mike Orszag, Journal of Economic Geography, 1, 2001Underpinning the many insights is the familiarity of the author with all aspects of the process of pension fund investment, derived from interviews in many parts of the world with trustees, consultants, investment managers and regulators. The insights derived from these interviews shines through the analytical work and ensures its ongoing relevance to real world issues.‘E.Phillip Davis, Investment & Pensions Europe, Jul/Aug. 00.One of the rich aspects of the book is the exploration of Anglo-American law as a background for the role of pension fund trustees and their fiduciary responsiblities. This is an aspect that should be of particular interest to those in continental Europe seeking to set up pension funds from scratch. The book is also highly relevant to the UK government initiative to assess the modus operandi of institutional investment.'E. Phillip Davis, Investment & Pensions Europe, Jul/Aug. 00.Even those not interested directly in the topic of urban infrastructure investment … will find the book rewarding, as a source of challenging, original thinking on fundamental issues linked to the investment of pension assets.‘E. Phillip Davis, Investment & Pensions Europe, Jul/Aug. 00.

Gordon Clark is Halford Mackinder Professor of Geography and Fellow of St Peter’s College, University of Oxford.