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Erschienen in:
2019 | OriginalPaper | Buchkapitel
1. Introduction
verfasst von : Christopher K. Merker, Sarah W. Peck
Erschienen in: The Trustee Governance Guide
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Abstract
A fiduciary is anyone who is placed in a position of trust by another. Fiduciary duty is what has held civilization together since the beginning of human history. Our lives are better off for it, and we see examples of it everywhere we go: of the duty of parent to child, spouse to spouse, and often later in life, child to parent; doctor to patient, policymaker to constituent, manager to stockholder; and the list goes on. Trustees on an investment board also have a fiduciary duty to beneficiaries or donors. Like other types of fiduciaries, they are entrusted to act in others’ interests, and not their own. Fiduciary duty is at the heart of this book.
The goal of this book is to put our work and findings in the hands of the practitioner. In making this guidebook a practical guide, we have structured this book to address the five most critical areas facing every organization with an investment mandate. Each area has several sub-topics related to it, including more technical sections for investment professionals (practitioner focus). By the end of the book, we want this to be something that each trustee can take back to their boards and begin incorporating into regular practice and use to ultimately more effectively fulfill their fiduciary duty.