This paper seeks to offer a perspective from two practitioners on how the potential for retirement fund collaboration to improve long-term market returns could be realised. After looking at the Universal Owner hypothesis and long-term market returns, and their relevance to pension funds, the paper looks at collaboration to date, and the problems of collective action in general. After outlining several current collaborative opportunities, the ways in which they address the problems of collective action are outlined. The paper ends with a call to action to the leaders of the world's largest pension funds. Copyright (c) 2007 The Authors; Journal compilation (c) 2007 Blackwell Publishing Ltd.
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