The guidelines set out in this section cover the governance issues relating to the selection, appointment and monitoring of external investment managers. The choice of whether to use an external investment manager depends on the resources available within the social security institution as well as views on the added value such an external manager can bring. Depending on the resources and expertise available within the organization, there may be a requirement to use external advice and professional advisers to assist the board and management in carrying out these governance responsibilities.
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