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System of the institutional investment process

System of the institutional investment process

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Conference Paper
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A common assumption is that institutional investor decision-making is driven by skilled financial professionals focussed on the maximisation of financial return, without providing individual contributors the opportunity to participate in the decision-making process. This paper investigates whether institutional investors, the dominant agents in inv...

Context in source publication

Context 1
... act as appointed agents of what may well be competing sets of interests (employees and employers for example), but usually with one common objective -to maximise the financial return on investments to provide for the retirement needs of fund members, adjusting for various risks. Figure 2 is an indicative (rather than exhaustive) illustration of the structure and flows of value and information between institutions and service providers involved in the investment management process of a pension fund. By law, the primary responsibility of a trustee is to act in the best interests of the members of a fund. ...

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Citations

... This has been spurred by changes in legislation and the introduction of the Code for Responsible Investment in South Africa (CRISA) in 2011 (IODSA, 2011). Despite these progressions, the number of PRI signatories compared to the size of investment industry remains low (Habberton, 2014). Research has found that barriers to the growth of RI in South Africa currently appear to outweigh the drivers and enablers (Viviers, Eccles, de Jong, Bosch, Smit & Buijs, 2008;van der Ahee & Schulschenk, 2013). ...
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The paper investigates the decision-making processes of institutional investors and proposes an emergent conceptual framework that illustrates the connections between the phenomena under investigation in the context of Responsible Investing. The components of the framework were derived through the analysis of the institutional investment value chain distilled from the findings from research to date analysing academic and industry sources. In application, the proposed framework intends to provide a foundation for the second stage of primary data gathering of my PhD research project. The framework is intended be applied as a referential tool to assist with understanding the interconnection between the various topics that constitute the processes of institutional investment decision‐making towards RI.