Stamford Associates and Xafinity introduce the XS Total Returns Alliance

Transcription

1 Stamford Associates ad Xafiity itroduce the XS Total Returs Alliace A uique partership providig holistic ad idepedet ivestmet cosultig services I clarity quality I itegrity

2 Stamford Associates is a leadig iteratioal ivestmet cosultacy firm with experiece of advisig pesio fuds spaig four decades. We create actively maaged ivestmet solutios by idetifyig ad combiig superior quality ivestmet maagers who are well placed to deliver material added value. We focus our etire efforts ad resources towards deliverig uequalled ivestmet advice ad outstadig service. We firmly believe that the role of the ivestmet cosultat is to provide idepedet advice i a uambiguous way, to be proactive ad to be accoutable for its recommedatios o the basis of a uequivocal aligmet of iterest with its cliets. Key facts* Over 35b of cliet assets uder advice icumbet maagers/strategies face to face maager meetigs last year ew maagers researched last year... 1,500 researched over past 3 years. Xafiity is oe of the UK s leadig specialists i pesios ad employee beefits. Our expertise addresses the eeds of both trustees ad employers across pesios, actuarial services, flexible beefits, healthcare ad traiig. We employ over 60 actuaries ad have bee providig professioal services for over 40 years. Our extesive ad detailed kowledge of pesio scheme liabilities meas that we ca costruct efficiet ad bespoke matchig strategies for our ivestmet cliets. Our dedicated liability drive ivestmet research team esures we obtai the best solutio for each cliet. Key facts* We have 6 offices coverig the whole of the UK... we employ over 350 people icludig qualified actuaries... we provide pesio fud services to over 400 cliets... * as at 1 Jauary 2013

3 The XS Total Returs Alliace is built o a shared desire to meet our cliets objectives usig a carefully crafted ivestmet architecture of the utmost itegrity. Our complemetary skills, resources ad experiece combied with a shared determiatio to deliver idepedet ad u-compromised advice provides trustees with the opportuity to beefit from a uique ad powerful ivestmet cosultig propositio. Our People William Holmes Xafiity Director, Head of Ivestmet Cosultig Bill qualified as a Fellow of the Istitute of Actuaries i 1989, joiig Hogg Robiso Fiacial Services (ow Xafiity Cosultig) i Durig his career Bill has provided actuarial ad ivestmet cosultacy to major pesio schemes for early twety-five years. Bill s curret resposibilities iclude leadig Xafiity Cosultig s atioal ivestmet practice. Bill maages a taleted team ad cotiuously promotes iovatio, leadig the idustry with itelliget liability maagemet ad de-riskig modellig capability. e william.holmes@xafiitycosultig.com t Natha Gelber Stamford Associates Chief Ivestmet Officer Natha Gelber is the fouder ad Chief Ivestmet Officer of Stamford Associates Limited ( SAL ). SAL was lauched i 1984 with the visio to materially improve the traditioal ivestmet cosultig model for UK pesio schemes with a focus o providig superior ivestmet solutios, geeratig superior risk adjusted returs ad establishig effective goverace structures. It has subsequetly grow to become a leadig iteratioal ivestmet cosultacy firm advisig o cliet assets of over 35 billio. Prior to foudig SAL, Natha worked for Orio Bak i Lodo ad Hill Samuel ad Co. Natha has over 35 years ivestmet experiece. e gelber@stamfordassociates.com t

4 Ivestmet challeges The challeges for pesio scheme trustees have ever bee more complex. The rage of ivestmet choices is dautig, volatile fudig levels pose a fiacial headache ad potetial solutios are ot ecessarily trasparet or readily available. At the same time it is ot always clear that the advice trustees receive is actually i the scheme s best iterests rather tha servig the ivestmet cosultat s busiess model. Key challeges faced by trustees iclude: Short-termism a excessive focus o the short term ca lead to kee jerk reactios that are detrimetal to the scheme s log term objectives. Selectig superior maagers Idetifyig exceptioal maagers based o a forward lookig orietatio remais difficult for trustees ad their cosultats who are overly reliat o past performace records ad maagers presetatioal skills. Replacig maagers it takes thorough ivestmet uderstadig supported by comprehesive resources ad IT systems to effectively moitor ivestmet maagers ad their portfolios, ad it requires idepedet thikig to determie whether ad whe to replace them. I the absece of a i depth aalytical evidece based assessmet, iferior maagers are ofte allowed to remai i place for far too log or maagers are replaced uecessarily based o meaigless short term ivestmet results. Either way, fudig levels ca be sigificatly damaged.

5 Volatility ad risk fudig levels ca be volatile but reducig risk is ot always the right aswer. Iformed risk maagemet across assets ad liabilities provides the best platform for a effective ivestmet strategy. Goverace commitmet the ogoig moitorig ad maiteace of a scheme s ivestmet ad fudig strategy ad all compoet parts remais complex ad labour itesive, but critical for success. This commitmet alog with the roles ad resposibilities of key parties (trustees, sposor ad advisors) must be properly reflected i the scheme s goverace structure. Capacity a icreasig umber of ivestmet cosultats may be too large to provide all of their cliets with their best ivestmet advice ad executio. Cost the higher charges ofte iheret withi complex ivestmet solutios are ever matched by the guaratee of added value. Ca trustees be cofidet that they are receivig value for moey? Coflicts of Iterest how ca trustees moitor, judge ad mitigate the coflicts of iterest iheret i may cosultig firms busiess models? Our solutio - the XS Total Returs Alliace is drive solely by our cliets ivestmet objectives ad fiduciary requiremets. It is built o a shared desire ad capability to provide a seamless ivestmet cosultig service of the highest quality. We work with idividual cliets to defie clear ad pertiet log term objectives ad idetify goverace eeds. We advise o all aspects of implemetatio ad ogoig maiteace ad we provide moitorig ad reportig to suit idividual cliet requiremets.

6 What makes the XS Total Returs Alliace differet? No sigle ivestmet cosultig firm ca geuiely excel across all ivestmet disciplies. I a icreasigly complex ivestmet eviromet the XS Total Returs Alliace provides a uique ad holistic approach that brigs together Xafiity s liability matchig expertise ad Stamford s extesive asset side capability to deliver comprehesive best of breed ivestmet solutios. Regular reportig Ogoig asset ad liability moitorig De-riskig ad fudig triggers Flightpla Strategic asset allocatio Moitorig ad reportig agaist objectives Cosolidated asset ad liability maagemet Itegrated risk maagemet Overall strategy implemetatio Risk cotrol ad reportig Ogoig maager research Maager moitorig ad replacemet Maager selectio ad implemetatio Settig ivestmet objectives The XS Total Returs Alliace is a idepedet ad holistic ivestmet solutio that provides joied up maagemet of both assets ad liabilities.

7 Recet treds i fud maagemet Over the years we have witessed a remarkable tred towards cosesus performace withi the asset maagemet idustry. This has resulted i the ear extictio of geuie ivestmet ability amogst traditioal ivestmet houses i favour of mediocrity ad a focus o damage limitatio from a self-preservatio perspective. At the same time a host of liability matchig ad risk maagemet tools has become available, ragig from relatively simple to highly complex solutios. Buildig holistic ivestmet solutios that iclude geuie retur seekig potetial ad itelliget risk maagemet based o idepedet advice is key to restorig pesio schemes fudig levels i a affordable way. Xafiity I recet years, the rage of matchig ad risk maagemet products has become more complex ad the umber of providers has multiplied. As a result, it ca be difficult to determie which products actually add value. With over 40 years experiece i the pesios idustry Xafiity has built a detailed kowledge of pesio scheme liabilities. This kowledge has bee used to develop a comprehesive rage of liability matchig ad risk reductio strategies to help cliets maage liability risks ad reduce fudig level volatility. Our research team provides idepedet, whole of market expertise to help our cliets make the right choice whe selectig maagers to implemet liability matchig strategies. We work with our cliets to build idividual flight plas to restore full fudig ad reduce volatility i a way that balaces risk ad cost. Our solutios rage from simple rebalacig approaches to dyamic de-riskig strategies.

8 Stamford Associates The corerstoe of Stamford s success is our ability to capture exceptioal ivestmet maagemet talet ad egage with strategies that exploit market iefficiecies. Our global maager itelligece etwork combied with a focused ogoig maager research programme is supported by rigorous evidece-based assessmet ad evaluatio aalytics. It eables us to idetify high calibre ivestmet professioals aroud the world who apply clearly defied ivestmet disciplies ad are prepared to express their ivestmet covictio i their portfolios. People, ot istitutios, make ivestmet decisios. We are firm believers i fudametally-orieted ivestmet approaches that are well placed to add material value for our cliets over time. We avoid ivestmet products, fads ad pseudo-active ivestmet strategies that are desiged to boost ivestmet maagers busiesses rather tha our cliets bottom lie. We are pioeers of the multi-maager cocept, buildig bespoke ad diversified portfolios for each cliet with risk maagemet costitutig a key elemet of both portfolio costructio ad ogoig supervisio. The whole is greater tha the sum of the parts Stamford ad Xafiity have joied forces to offer a powerful ad compellig ivestmet solutio which brigs clarity, idepedece ad pragmatism to pesio scheme trustees who face a bewilderig array of choices. The XS Total Returs Alliace delivers a holistic ivestmet cosultig service coverig strategic allocatio, maager selectio ad moitorig, liability matchig, risk maagemet ad reportig. It is desiged to lead trustees out of the fiacial maze to a successful ivestmet outcome.

9 Stamford work with their cliets to geerate superior risk adjusted ivestmet returs Xafiity provide ehaced liability matchig advice to help their cliets reduce ad maage liability side risks i the most efficiet way Together we are able to offer a holistic ivestmet propositio which is coflict free ad true to our shared ivestmet ad busiess philosophy quality, ot quatity The XS Total Returs Alliace represets a uique ivestmet cosultig solutio for the UK pesios market that uites Stamford s market-leadig maager research, selectio ad moitorig capabilities with Xafiity s comprehesive liability maagemet kow how. It reders a complete, idepedet ad seamless ivestmet cosultig service that is tailored to the specific circumstaces of each scheme. The Alliace brigs clarity ad itegrity to a icreasigly challeged ad coflicted UK pesios cosultig eviromet.

10 Our locatios Stirlig BELFAST MANCHESTER LEEDS For more iformatio, please cotact: Rob Skelto T: E: Stuart Grat T: E: READING LONDON Stamford Associates Limited. Registered Office: Old Bod Street, Lodo W1S 4PX. Registered i Eglad ad Wales uder Compay No Stamford Associates Limited is authorised ad regulated by the Fiacial Coduct Authority. A member of SPC. Xafiity Cosultig Limited. Registered Office: Phoeix House, 1 Statio Hill, Readig, RG1 1NB. Registered i Eglad ad Wales uder Compay No Xafiity Cosultig Limited is authorised ad regulated by the Fiacial Coduct Authority. A member of The Society of Pesio Professioals. 131XC(b) (09/14)

11 It is ispirig to see two professioal orgaisatios focus exclusively upo their idividual core stregths ad joi forces to provide high quality ivestmet solutios. Sir Mark Weiberg