Transition Management

Bridging the Gap to the Target Portfolio.

BTIG Transition Management is dedicated to providing global multi-asset class transition solutions for asset-owners undergoing portfolio realignments or a change to their investment manager lineup. Our mission is to help clients protect overall fund performance from unnecessary transaction costs and unintended risk exposure throughout the duration of their transitions. Leveraging proprietary order routing technology and BTIG’s natural liquidity, our team maintains order flow anonymity and provides clients with a cost-effective and seamless end-to-end transition management solution.

With an unwavering commitment to service, BTIG provides project and risk management capabilities that go beyond the traditional buy-side/sell-side trading relationship and can serve as fiduciary throughout implementation.

Pre-Transition

With a consultative approach, BTIG develops a timeline that accommodates the client's custodian, their investment managers and other service providers. A pre-trade analysis is performed on the total transition as well as for the portfolio net of in-kind transfers. This analysis serves as an estimate of transaction costs and the timing risk involved with each transition, and represents the valuation benchmark for overall performance. Once an analysis is complete, our dedicated transition management team designs an appropriate execution strategy for each client.

Implementation

As a client-focused provider, we offer daily reporting for each fund, including market events and company news that may impact transition performance. During the settlement cycle, trade affirmation status and cash flows are monitored within the associated custodial account(s) to ensure accurate daily reconciliation. Once the implementation phase is complete, BTIG instructs delivery of the final portfolio to the new fund manager(s) for reconciliation.

Post-Transition

BTIG delivers the final post-trade report to the client with a comprehensive analysis that measures the outcome of the transition versus implementation shortfall and pre-defined logistical goals. As necessary, BTIG will also advise the custodian on residual cash and stock dividend events in the legacy managers' account.

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