All Securities Services articles – Page 39
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Features
Measuring up to standards
Most large investment managers now comply with performance presentation standards according to new research from PricewaterhouseCoopers. PwC received responses from 69 investment managers around the world for its report 2001 Global trends in performance measurement. The survey found that 95% of those who responded are either compliant with at least ...
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Features
More you saved - the more you pay
Revenue sharing is the “big secret” of the retirement industry. It can affect badly planned participants’ and sponsors’ results. People must unveil this secret and learn how to get better services for the money they pay. This is according to a research study just released by McHenry Consulting Group, a ...
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Features
Soft commission under attack
In his review of UK institutional investment, published in March, Paul Myners drew attention to the lack of scrutiny of transaction fees, particularly broking commissions, incurred on clients’ behalf by their fund managers. Myners was concerned that trustees receive little information and have little control over these costs; the lack ...
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Features
Myners opens Pandora's box
When Paul Myners allocated just a couple of pages to the issue of brokerage commissions in his recent report into the UK institutional market, he cannot have anticipated the hornets’ nest he was to disturb. Although he focused on commissions, it has brought the issue of trading costs as a ...
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Features
New channel in and out of equity markets
While past efforts to harmonise clearing and settlement and other related market practices across the rest of Continental Europe have been fitful at best, the four markets of the Nordic region – Sweden, Denmark, Finland and Norway – have on the whole tended to be far better disposed towards regional ...
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Features
Clydesdale: in from the cold
Ask clients to name potential custody providers, and until very recently the odds would have been heavily stacked against the name Clydesdale Bank figuring very high on any list of candidates, if indeed it was to be found at all. Despite having offered domestic trustee and custody services for some ...
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Features
Z score dissenters
Jan Baars and his employer, the PGGM pension fund, have been among the fiercest critics of the Z scores. In a series of articles in the Dutch press, PGGM has at times sounded almost apocalyptic, warning that the Industry-wide fund in the Netherlands is doomed. Complaints levelled against the Z ...
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Features
Opting out: illusion or reality
April the first next year sees the Netherlands’ Z scores reach their fifth birthday and members of industry-wide funds have the option of dropping out and seeking investment management and pensions administration elsewhere if their scheme fails to meet the prescribed level. The number of funds that are likely to ...
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Features
Measuring implementation shortfall
An unmanaged or poorly managed portfolio transition can at its worst combine opportunity costs, market impact and commissions to produce breathtaking costs. You needn’t look far for horror stories. A recent article in the US quoted the transaction cost company Plexus as saying one of the transitions it monitored has ...
