Other obstacles include pension fund consultants (gatekeepers) who may not be inclined to track targeted investments because they are not an established asset class, or they are more time consuming and costly, or pension funds themselves may not have dedicated staff to review and monitor targeted investments. By far, however, the main problem with pension funds making targeted investment in the emerging domestic markets is that the deals are too small, hard to find, and require in-depth knowledge of what a community needs for its improvement
