Abstract
The prudent man rule acts as a constraint on the discretionary investment decisionmaking of trustees and investment managers. The rule has conventionally been interpreted as requiring a fiduciary to promote two traditional investment objectives: attainment of an adequate return and preservation of the trust corpus.' As a general proposition, these have been the only objectives that trustees have sought in practice. Recently, however, this conception of the fiduciary's duties has come under attack. Numerous commentators have urged that trustees should be able to pursue other, nontraditional objectives in their investment practices.2 These commentators believe that the resources of various institutional funds should be employed to further worthy social goals.3
Sign-in/Register to access full text options 
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
