All Securities Services articles – Page 14
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Features
Who has the lowest costs of all?
If we measure the long-term average annual investment management cost incurred by funds from different global regions, we find that European funds, at 19 bps, spend the least while Australian funds, at 44 bps, spend the most. However, before we conclude that European funds are the world’s lowest cost funds, ...
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Aegon’s €40bn pooling project with Citigroup
Citigroup Global Transaction Services is to build an investment platform for Aegon The Netherlands that will enable the Dutch insurance and pensions company to pursue a range of asset strategies across multiple jurisdictions. Sikko van Katwijk, managing director at Citigroup, said the platform is designed to help investment managers change ...
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Features
Consultants kept busy as regulation mounts
An ever complex legal framework and volatile markets in Swizerland has been a boon for the consultancy industry. Rachel Fixsen reports
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Asian ambition
A big sell-off of listed property has not dented the confidence of Asia’s real estate market. Richard Newell talked to the major players at the annual Real Estate Investment World Conference in Singapore
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Shopping for shorts
Has the time come to let managers go long and short? Alastair Sayer looks at the pros and cons
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Trustees raise the pensions bar
The quality of pensions services is improving as the market for securities services becomes more competitive and driven by external advisers, writes Heather McKenzie
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Holland vies with Ireland and Luxembourg
The Netherlands has taken a leaf out of Ireland and Luxembourg’s book in its plans to be regarded as the destination of choice for tax transparent pooled funds, Kerry Ann White argues
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The rise of fiduciary mandates
Is the move towards fiduciary management in Holland a new trend or simply a case of old wine in new bottles? David White investigates
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FTK casts a shadow over custody
Pension funds are having to review the entire custody area in anticipation of the new financial arrangements, reports Heather Mackenzie
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Meeting the need to know
For global custodians, information is the new asset class. Across Europe, pension fund boards and trustees are coming under pressure from sponsors, accountants and regulators to provide greater transparency. To do that they need information, not only about the value of their assets, but how that value was created. As ...
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Features
AVV seeks to redress the balance
The pre-pension settlement, which allowed over 55s to keep their tax-friendly schemes, ruffled a lot of feathers, especially those of young workers, as Leen Preesman reports
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Features
The truth about custodian fees
It could be argued that custodians have had years of super profits due to unadjusted custody fee schedules, opaque charging for foreign exchange and unidentified revenues from spreads on interest paid and charged. However, the past few years have seen significant downward pressure on custodians’ fees and improved transparency of ...
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Features
Waiting to be discovered
When pension funds invest in traditional assets like equities and bonds they expose themselves to unintended sources of risk. The main sources unintentional risk are volatility and dividend yield for equities and credit spreads and liquidity for bonds. Once they detect these sources of risk most funds will either carry ...
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Features
Devil is in FX detail
Direct and in many cases very significant financial benefit can accrue to pension funds and investment managers that pay closer attention to their foreign exchange (FX) trades. UK-based benchmarking firm Amaces has launched a new module in its CMS analytical and benchmarking service that covers all FX deals. The module ...
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Features
Using overlay strategies
In May, The Royal Borough of Windsor and Maidenhead tendered a E599m currency overlay mandate for the £1.3bn (E1.9bn) Berkshire Pension Fund. It is one of a string of pension funds who are looking at diversifying risk through currency overlay. Other recent funds include Strathclyde, which hired Mellon Capital Management, ...
