November 2015

Thomas Murray IDS Newsletter

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Thomas Murray IDS is pleased to send you its November newsletter with links to the top stories that we have reported on as part of our on-going surveillance of issues of relevance to asset owners, fund managers, and their key service providers. We endeavour to make these stories succinct, relevant and informative for our readership and would welcome any comments or suggestions to help us improve content and format.

Best Practice in Custody Agreements

The major custodial banks have long advertised themselves as global. They engage with clients from around the world, holding and servicing the widest range of securities on investors’ behalf. On the face of it, this implies that the contractual terms between you as an investor and your custodian should be standardised, wherever you are located. In fact, this is not necessarily the case.

The Role of the Network Manager

As investors broaden their horizons, they increasingly require expert knowledge of the local financial infrastructure in the markets in which they invest. The network manager—originally the title for a largely administrative function at global custodian banks—has risen to prominence as a result. Marie Ellis, assistant director at Thomas Murray Data Services, explains what a network manager does and why this role is taking on increasing importance.

An Investor's Guide to T2S

After nine years of planning, the first stage of a major new pan-European infrastructure project went live in June this year. Target2-Securities (T2S), whose logo is “settling without borders”, is an initiative of the Eurosystem (the European Central Bank and the central banks of the eurozone member states). What is T2S and what do investors need to know about it?

Getting the Outsourcing Game Plan Right

The Rugby World Cup is shining new light on how tactical a sport rugby has become in recent years. The ability to make the right call at the right time is crucial. Those who are able to follow their game plan and execute it ultimately come out as winners. It is a similar theme for asset managers and owners who consider outsourcing their operational functions. This decision should be for the right reasons, meticulously planned, and well executed.

Local Authority Pensions to Support UK Infrastructure Investment

In a plan to bolster investment into the UK’s infrastructure sector, the British government has announced plans to merge the existing 89 local authority pension funds into six wealth funds. The plan is to change the way that infrastructure projects are funded and planned, whilst also saving money on pension fund management fees and costs.


Nick Bradley

For further information contact:

Nick Bradley
Managing Director
Tel. +44 (0) 20 3011 1720

About Thomas Murray IDS

Thomas Murray IDS provides benchmarking, monitoring, selection and customised advisory services for institutional investors, focusing on costs, risks, and operational performance associated with service providers.

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