BHF BNY

Professional support for the restructuring of your portfolio

There are many different reasons for restructuring a portfolio. Due to high administrative costs and time-consuming coordination tasks, and a lack of expertise, investors are increasingly turning to specialised companies offering professional transition management services. In a highly efficient, structured process that minimises costs and risk, we can transfer the portfolio, or parts of it, to a new portfolio structure defined by the investor.

ACTING AS YOUR ADVOCATE

BNY Global Transition Management ("GTM”) is part of BNY ConvergEx Group, the world’s largest agency broker with offices in London, New York, Tokyo and Sydney.

GTM does not engage in proprietary trading, which means that its transition management services are neutral, impartial and thus free of any conflicts of interest. 20 members of staff are presently dedicated to offering seamless portfolio transition services.

GTM’s support accelerates the transition process so that your portfolio manager can start actively managing and measuring the performance of the new target portfolio sooner. As the main point of contact throughout the restructuring process, we coordinate the transition from the old portfolio to the new structure you require.

In 2006, we executed more than 500 transitions with an aggregate value in excess of EUR 200 billion.

HOLISTIC TRANSITION MANAGEMENT

The service normally comprises the following elements:

• Pre-trade analysis
• Portfolio administration
• Trade execution
• Performance measurement, portfolio and trade performance as well as implementation shortfall reports
• Risk management
• Foreign exchange settlement

GTM offers a holistic and wholly transparent service throughout the entire portfolio transition process. Every aspect of the transition is coordinated by an experienced and highly motivated team that hands over the "new” portfolio to the new portfolio manager on the agreed value date. The new portfolio manager’s performance is thus solely the result of his own investment abilities rather than those of the manager before the transition.

Enlisting the services of a professional transition manager is a crucial factor in the successful restructuring of a portfolio.

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