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Whether it's due to rebalancing, a change in managers, or asset allocation, the equity bear market has instigated a surge in transition activity for financial services firms. Global Investor has named Morgan Stanley #1 for Overall Customer Satisfaction on a weighted basis in the publication's first transition management survey. The survey appears in the April 2003 edition of Global Investor magazine.
The Firm also received #1 rankings in the Advice on Project Management, Analyses and Risk Control categories as well as second-place nods in the Reporting Capability, Fees Structure, Relationship Management, Operational Efficiency and Overall Service groups.
Asset owners and asset managers are increasing their usage of transition management services. Effective transition management, especially in low return environments, is as important as the asset allocation decision itself," said Fred Fogg, Executive Director in the Institutional Equity Division. "The Morgan Stanley Transition Management Team helps clients efficiently and cost-effectively restructure their portfolios.
Global Investor surveyed 79 pension plans in North America, Europe and Asia to determine which bank is the best at handling transition management for their clients. Respondents rated banks in several subcategories for relative banking services (if the client used more than one transition management service), customer satisfaction and individual service.
According to Global Investor,
banks such as
Morgan Stanley do well at attracting larger, potentially more complex, transition business.
To ensure an accurate reflection of the results, the publication then weighted the results based on the size of the responding portfolio (1 point for portfolios with less than US$1bn in assets up to 4 points for those with greater than $10bn).
According to the survey, the most important criteria for selecting a transition manager are:
- Liquidity
- Confidentiality
- Expertise in Asset Class
- Total Costs
- Operational Risk Management
For more information regarding the Transition Management Survey, please contact:
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Fred Fogg, Equity Transition Management (New York)
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