Online publication of Ross Goobey papers - Nov 2010
Posted: 15 November 2010
The Pensions Archive Trust are delighted to announce that the papers of George Ross Goobey to the Trustees of the Imperial Tobacco Pension Fund are now available to be viewed in digital format via the PAT website.
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 of the most influential investors in the UK.
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.
The papers themselves consist of transcripts of speeches, draft and final copies of articles, handwritten notes and graphs and charts which provide an understanding of how the investment strategy of the Imperial Tobacco pension fund evolved through Ross Goobey’s intervention in the period covered, i.e. between 1953 and 1957, a critical period in his career as well as being a seminal period for the development of investment policy and actuarial science in the UK.
The scans, along with comment papers on George Ross Goobey's work, and a transcript of Ross Goobey's address to the 1956 Conference of Superannuation Funds can be accessed on the George Ross Goobey
page of the website.