All Securities Services articles – Page 41
-
Features
Twenty five years 'agrowing'
With Brown Brothers Harriman (BBH) partner Ham Lynch bidding adieu to the UK as he heads back to New York to take up an expanded role within the bank, it seems an opportune moment to review the significant broadening of activities over which he has presided during his tenure as ...
-
Features
B&W chosen
Consultant Bacon & Woodrow has been appointed to advise the Irish National Treasury Management Agency (NTMA) on the selection of a global custodian for the e6.5bn National Pensions Reserve Fund (NPRF). The consultant was chosen from a list of 10 tenders. The size of the fund is set to increase ...
-
Features
The message just isn't getting through
Our firm retained some researchers to look into how the largest 50 UK pension funds view securities lending and more specifically risk management related issues. Our research was conducted purely in the UK, as the feeling was that there would be little difference across Europe. All the funds had over ...
-
Features
Nestlé picks Northern Trust
Northern Trust has won the custody mandate for Nestlé Switzerland’s Sfr7bn (€4.6bn) pension fund. The fund, based in Vevey, will receive domestic and global custody and related services, including risk performance, performance measurement, online services, Swiss stamp tax processing and reporting. Says Lucille Knapp of Northern Trust: “Major reasons given ...
-
Features
Avoid the real high risk zone
Benchmark. The very word sounds solid and reliable. Obsessive attention to tracking error, though, perpetuated by the more emotive term ‘benchmark risk’, leaves the underlying structure unscrutinised. So while there is a belief that a small tracking error provides safety, little thought is given to the risk associated with the ...
-
Features
Consultants on the block
Consultants are getting a taste of their own medicine, in the form of a manager selection performance measurement scheme launched by the WM Company, the UK-based performance measurement and investment administration firm. But some consultants have chosen to put themselves in the spotlight, says Peter Warrington, executive director at WM, ...
-
Features
DC to drive fund business forward
One of the largest and more sophisticated fund management markets in the world, the strongly-equity oriented UK market, has been providing its highly developed pension fund industry with a broad a range on investment vehicles for a long time. Whether pension funds opt to invest in segregated accounts or choose ...
-
Features
Slicing up the European cake
Northern Trust, the custodian with E1.9trn in assets at the close of last year, showed its larger competitors up in 2000 by winning E225bn in new business worldwide, E70bn of which originated from Europe. Significant wins last year include appointments from Akzo Nobel, both in the UK and the Netherlands, ...
-
Features
Mefop chooses on performance
Make no mistake about it. The Italians are deadly serious about developing their pension funds, adopting the latest and best from outside, but only after a thorough and rigorous analysis as to what they need and how it can serve their needs. This message came through very clearly at the ...
-
Features
Currency risk out of the closet
Many may not be familiar with the concept of a ‘currency benchmark’. It results from the explicit recognition of currency risk in a portfolio, and, for example, might be ‘World ex UK equities 100% hedged’. The ‘100% hedged’ is the key point here: the process of choosing benchmarks is in ...
