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Pension scheme's place higher demands on transition management providers
05 September 2011
Pension funds are demanding ever higher levels of project management and transparency from transition managers, writes Ben Gunnee
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Transition management
pension scheme
The transition management industry has changed beyond recognition over the last decade. Long gone are the simple one day equity trades where the only question a transition manager was asked was how much is their commission rate.
Like most institutional investors, pension funds have increasingly expanded their exposure to non-equity asset classes including bonds, swaps and hedge funds to name but a few. This shift in long-term asset allocation strategies has materially impacted the transition management industry.
Transitions spanning multiple asset classes, taking weeks to complete rather than days, are rapidly becoming the norm, which in turn increases the attention given by pension fund trustees to each transition event.
The changing demands by pension funds has meant every organisation involved in transition management has needed to change their business model, from minor modifications to sweeping wholesale changes. Against this backdrop the question begs, what do pension funds really want from...
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