
State Street wins JTB transition brief
JAPAN - State Street has been appointed as transition manager for the YEN98.3bn (US$772m) Japan Travel Bureau (JTB) pension fund, and has already completed a portfolio transition utilising its agency-based transition management program.
“JTB is leading the adoption of efficient investment management tools and methodologies, such as transition management, to Japan's pension plans,” said Nicholas Bonn, executive vice president and head of State Street's transition management business. “We are pleased they have chosen to partner with State Street to assist them in achieving their portfolio investment goals.”
Transition management is designed to reduce market impact and cost during the process of restructuring an investment portfolio, undertaken when a pension plan or other institutional investor moves from one investment strategy to another.
The firm believes that it's agency-based transition management program is superior to principal-based programs, as it minimises both explicit costs, such as trading commissions, as well as implicit costs, like those incurred from the market impact of trading.
By Geoffrey Ho
Latest stories
Late Cycle Asset Allocation Views
Here are key takeaways from our 2019 Asset Allocation Outlook on how we are positioning asset allocation portfolios in light of our outlook for the global economy and markets.
Five stories you may have missed this week
This week's top stories included a Freedom of Information request revealing more than 100,000 savers could face six-figure tax bills as a result of GMP equalisation.
Pearson scheme completes £500m buy-in with L&G
The Pearson Pension Plan has entered into a £500m pensioner buy-in with Legal & General (L&G) in the insurer's first deal of 2019.
Back to Top