George Ross Goobey papersThe Pensions Archive has been fortunate in receiving the papers provided by the late George Ross Goobey (1912-1999) to the board of trustees of the Imperial Tobacco pension fund. Ross Goobey joined the Imperial Group Pension Fund as pensions manager in 1947, following a training as investment manager at Marine & General Insurance company and qualification as an actuary. As the pension manager of Imperial Tobacco Ross Goobey invested the entirety of the Imperial Tobacco pension fund in equities in the mid-1950s and advocated equity investment as an appropriate policy for pension funds. His central role in the widespread shift of pension funds from investing predominantly in fixed income to investing in equities, known as the 'cult of equity', makes him one the most influential investors in the UK. In fact Ross Goobey made multiple contributions. As an investor in equities Ross Goobey pioneered institutional investment in small and medium capitalization companies and played a role in establishing pensions funds as major players in the property market. He was also involved in early initiatives relating to the monitoring by pension funds of the companies in which they invested. Ross Goobey's highly successful investment policy meant that he remained at Imperial Tobacco in Bristol for the rest of his career, becoming, in due course, a main board director of the parent company and a non-executive director of Hill Samuel. He was elected President of the National Association of Pension Funds in 1972 and was made past master of the Company of Actuaries in 1986. He was also a master of two other London livery companies. Despite being such an influential figure, George Ross Goobey's investment approach has been difficult to study because he published relatively little, being content to exercise his considerable talents within the Imperial Group and the National Association of Pension Funds. Ross Goobey's papers to the trustees of the Imperial Tobacco Pension Fund therefore provide additional information on his investment philosophy, as well as constituting a contribution to the available historical records regarding pension fund investment during the 1950s. Memorandum on growth stocks   
The pension fund valuation rate of interest  
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