As the twenty-first century began, there was significant discontent among plan sponsors and other institutions regarding the prevailing investment management structure: too many people had a role while no one had overall responsibility. Fiduciary management came into being in response to such problems. Seeking to reunite expertise and responsibility, fiduciary management tries to ensure that those who oversee managers and consultants not only have the expertise to do this job, but also have close enough ties to the plan sponsor to do this job effectively. Fiduciary Management: Blueprint for Pension Fund Excellence offers an in-depth explanation of every facet of this fast-growing approach to organizing the management of an institutional investment portfolio. Expert author Anton van Nunen begins by outlining the historic shift that has brought this strategy to the attention of the investment community, explaining the relationship between the theory and pension plans. Pension plan managers first set the scene for fiduciary management by limiting the number of players who were responsible for the funds. The theory soon spread beyond just pension funds to attract the interest of those who were responsible for all types of institutional portfolios. Van Nunen defines what is and what is not fiduciary management, details the principal functions of a fiduciary manager, and outlines the wide-ranging benefits of fiduciary management. Then he illustrates fiduciary management in practice, giving advice in terms of asset-liability modeling and financial markets, constructing portfolios, selecting and overseeing investment managers, benchmarking and measuring performance, and reporting.