NEW YORK - A set of risk standards for fiduciaries and managers of multiclass, multimanager portfolios was released by 11 pension fund, endowment, foundation, and insurance company executives.
Calling themselves the Risk Standards Working Group, the executives wrote a draft of standards this summer and in July submitted them to a variety of investment professionals for comment.
The number of standards were winnowed to 20 from 33, with the intent to offer a foundation for institutional investors and money managers to plan their own risk management practices, the working group says.
The standards can be viewed on the World Wide Web at http: www.cmra.com.
In addition, free seminars will be held to present the standards on Nov. 25 in San Francisco, Nov. 26 in Los Angeles, Dec. 10 in Chicago and Dec. 12 in New York.
The New York-based consulting firm Capital Market Risk Advisors coordinated the working group and will coordinate the seminars.