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Reinventing the Investment Paradigm is the focus of the Fall Issue of the Rotman International Journal for Pension Management.

October 1, 2013

Toronto – The new issue of the Rotman International Journal of Pension Management takes a look at “reinventing the investment paradigm” in the pensions world from a number of different perspectives including behavioral finance, principal-agent conflicts, fiduciary duties of asset owners, corporate governance, investment time horizon, risk management, and collaboration strategies between institutional investors.

With contributions from pension practitioners and academics, the journal is published by the Rotman International Centre for Pension Management (Rotman ICPM) at the Rotman School of Management, University of Toronto.

“The articles in this issue demonstrate that we are moving towards a new investment paradigm where pension funds take a long horizon approach to value creation that leads to both the companies they invest in, and their own beneficiaries being better served,” says Journal editor, Keith Ambachtsheer who is also Director of Rotman ICPM and an adjunct professor of finance at the Rotman School.

Articles in the Fall 2013 issue include:

• A guest editorial on Measuring What Matters Most in Investing by Don Ezra;
• Why Do Investors Favor Active Management to the Extent They Do? by Ron Bird, Jack Gray, and Massimo Scotti;
• Behaving Like an Owner: Plugging Investment Chain Leakages by Jane Ambachtsheer, Richard Fuller, and Divyesh Hindocha;
• Pension Fiduciaries and Public Responsibilities: Emerging Themes in the Law by Edward J.Waitzer and Douglas Sarro;
• The Value of Governance by Anita Anand;
• Ten Strategies for Pension Funds to Better Serve Their Beneficiaries by Keith Ambachtsheer and Rob Bauer;
• Effective Investor Collaboration: Enlarging the Shadow of the Future by Danyelle Guyatt; and,
• Allocating Risk Capital: The Case of New Zealand Superannuation Fund by David Iverson and Renato Staub.

Journal articles are available at no charge online at or as a flipbook at Articles can also be downloaded from SSRN.

The next issue of the Journal is scheduled for release in Spring 2014.

The mission of the Rotman International Centre for Pension Management (Rotman ICPM) is to be an internationally-recognized, high-impact catalyst for fostering effective pension design and management. Its four primary tools to achieve this goal are the funding of objective and transformative research, the organization of interactive, action-oriented discussion forums, the publication of a readable journal relevant to professionals in the pensions and related fields, and the delivery of the globe's leading governance education program for Board members of pension and other long-horizon investment institutions. Further details on the Centre, including access to the Rotman Journal of International Pension Management, are available at

The Rotman School of Management at the University of Toronto is redesigning business education for the 21st century with a curriculum based on Integrative Thinking. Located in the world’s most diverse city, the Rotman School fosters a new way to think that enables the design of creative business solutions. The School is currently raising $200 million to ensure Canada has the world-class business school it deserves. For more information, visit


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Ken McGuffin
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University of Toronto
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