Conference on "World Class Fiduciary Practices"

The Governmental Pension Fund of Thailand - with assets of approximately $4 billion (U.S.) and over 1 million members - is the country's largest retirement system and represents roughly 10% of the value of the entire Stock Exchange of Thailand. Seeking to institute "global best practices" at its own organization as well as influence the country's larger financial services sector, the Fund's Board and upper management convened a conference on "World Class Fiduciary Practices" in September 2002. The two leading speakers were Samuel (Skip) Halpern of IFS - who spoke on "Fiduciary Responsibilities in Investing" - and Dr. William Crist, then President of CalPERS - on Corporate Governance. Mr. Halpern also conferred with the GPF Board and upper and mid-level staff regarding their investment program and practices.