BNY ConvergEx Group has created a new solution that enables small and medium-sized pension funds to leverage the benefits of international asset reallocation opportunities. Through its global transition management business, ConvergEx has created a new clearing solution that gives small and medium-sized pension fund clients investing in commingled funds the ability to use transition management to make changes in investment strategy. ConvergEx’s clearing arrangements allow it to offer efficient global trading and settlement to those clients without their own global clearing and settlement framework in place. Kal Bassily, CFA, managing director and global head of BNY ConvergEx Group’s global transition management business, said: “Clients who lack the ability to trade and settle their portfolios in non-US securities are exposed to greater risk during the transition process if the trade involves a large cash funding component. We have created a unique remedy to this problem by allowing small and medium-sized pension funds to participate in transitions as they never have before, while both expanding the breadth of opportunities available to them during changes in investment strategy and increasing our ability to hedge and mitigate risk.”
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