Changes in prudent investor standards in the 1990s freed trustees to delegate investment functions to investment advisors and investment managers. Recently, the market has been uncertain, leaving trustees without clear-cut investment opportunities. There is now a greater focus on how one invests rather than what is the “best” investment or asset class. The result: These days, many trustees and their investment advisors see themselves less as stock pickers and more as overseers who hire and ...

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