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Illinois Municipal picks transition managers
trueIllinois Municipal Retirement Fund selected BlackRock, Loop Capital Markets, Northern Trust, Penserra Capital Management, Russell Investments and State Street to be placed on a list of transition managers to be chosen on a case-by-case basis.
UniSuper taps BNP Paribas as new custodian
trueUniSuper hired BNP Paribas Securities Services as master custodian for the A$50 billion ($38.8 billion) superannuation fund.
Transition managers answer call for sophistication
trueTransition managers are adding new capabilities to transfer assets in complex derivatives, futures and options, along with traditional transfers of securities.
Maitland acquires U.K. fund administrator Phoenix Fund Services
trueMaitland, an advisory, fund administration and fiduciary services firm, acquired U.K.-based fund administrator Phoenix Fund Services, marking its entry into the U.K. fund administration market.
BNY Mellon settles with U.K.'s Financial Conduct Authority on custody rule violations
trueBank of New York Mellon will pay £126 million ($188 million) in a settlement with the U.K.'s Financial Conduct Authority for violations of the agency's custody rules regarding the custodian's records.
Cantor Fitzgerald starting transition management unit
trueCantor Fitzgerald on Monday announced it's creating a transition management business.
Japan's GPIF hires Nomura, BlackRock and Russell to handle transitions
trueJapan’s Government Pension Investment Fund hired Nomura Asset Management, BlackRock Japan and Russell Investments Japan as transition managers.
WSP Parsons Brinckerhoff selects Mercer to provide actuarial services for 7 plans
trueWSP Parsons Brinckerhoff, London, hired Mercer to provide actuarial services to its seven U.K. retirement plans.
Nunavut Trust signs Northern Trust as global custodian
trueNunavut Trust hired Northern Trust as global custodian for the trust's C$1.6 billion ($1.27 billion) in assets.
Access to liquidity key concern for equity traders, survey finds
trueEighty-four percent of institutional equity traders are either “concerned” or “very concerned” about sourcing liquidity in the current market, according to a Liquidnet survey.
Carlyle takes stake in fund administration firm Conifer Financial Services
trueThe Carlyle Group will acquire a majority stake in asset services firm Conifer Financial Services, in a deal expected to close in the second quarter.
John Heathcoat pension fund selects Punter Southall for actuarial, investment services
trueJohn Heathcoat Pension Scheme hired Punter Southall to provide actuarial, administration, risk and investment services.
New Hampshire 457 plan scouting for provider
trueNew Hampshire Public Employees Deferred Compensation Plan is searching for a bundled provider for the $277 million 457 plan.
Berkeley Police/Fire Employees on lookout for custodian
trueBerkeley (Mo.) Police/Fire Employees Retirement System is searching for a custodian.
Loss of market makers may lead to buy-and-hold strategies
trueCorporate fixed-income investing is becoming a buy-and-hold market, as the reduction of traditional market makers and the resulting loss in inventory make active trading strategies more risky.