NAPF launches Transition Management ‘Made Simple’ guide for pension funds | PLSA
NAPF launches Transition Management ‘Made Simple’ guide for pension funds

NAPF launches Transition Management ‘Made Simple’ guide for pension funds

20 May 2014

A new guide has been published today (Tuesday) by the National Association of Pension Funds (NAPF) to help pension funds fully understand transition management (TM) and what to consider when choosing a transition manager.

Transition management – the process of managing changes to a pension fund’s portfolio of assets – has attracted more attention in recent years. The Financial Conduct Authority (FCA) published, in February 2014, the findings of a review into transparency management, which highlighted the importance of transition management, but also the need for more rigorous governance by investors and improved transparency and communication at some TM firms.

This Made Simple guide, sponsored by Russell Investments, is the latest addition to the NAPF’s Made Simple series. It looks at the benefits of transition management, the costs and risks involved and how to mitigate and manage them. It also helps pension funds decide whether they should employ TM and provides tips on choosing a suitable manager.

Joanne Segars, Chief Executive, NAPF, said:

“Pension funds’ interest in transition management has been growing in recent years due to a difficult market environment, in which transition management can offer some significant cost savings and greater scrutiny from the media about transparency in the process.

“Before embarking on TM, pension funds need to understand how transition management would benefit their fund, the costs and risks associated with the service and whether transition management is really right for them. These are just some of the areas the NAPF Made Simple Guide, produced in association with Russell, sets out to address.”

Chris Adolph, Head of Transition Management EMEA, at Russell Investments, commented:

“Transition management can offer many benefits to pension funds, but choosing the right transition manager can be challenging and this is why it is important that pension funds have the right information at their fingertips. This guide sets out, in a clear and accessible format, the main points a pension fund should know about transition management; including, whether using a transition manager is right for you and guidance on selection criteria for your transition manager.”

Transition Management Made Simple (PDF version) is available to download FREE from the NAPF website. The hard copy guide costs £18 for NAPF members and £35 for non-members. It can be ordered online at

The NAPF Transition Management Made Simple Guide was launched at the NAPF Local Authority conference at the Cotswold Water Park Four Pillars Hotel, Tuesday 20 May 2014.

Notes to editors:

About Russell Investments

Russell Investments (Russell) is a global asset manager and one of only a few firms that offers actively managed multi-asset portfolios and services that include advice, investments and implementation. Russell stands with institutional investors, financial advisors and individuals working with their advisors—using the firm’s core capabilities that extend across capital market insights, manager research, portfolio construction, portfolio implementation and indexes to help each achieve their desired investment outcomes.

Russell has more than $259 billion in assets under management (as of 3/31/2014) and works with over 2,500 institutional clients, independent distribution partners and individual investors globally. As a consultant to some of the largest pools of capital in the world, Russell has $2.4 trillion in assets under advisement (as of 6/30/2013). It has four decades of experience researching and selecting investment managers and meets annually with more than 2,200 managers around the world. Russell traded more than $1.4 trillion in 2012 through its implementation services business. Russell also calculates approximately 700,000 benchmarks daily covering 98% of the investable market globally, including more than 80 countries and more than 10,000 securities. Approximately $5.2 trillion in assets are benchmarked to the Russell Indexes, which have provided investors with 30 years of smarter beta.

Headquartered in Seattle, Washington, Russell operates globally, including through its offices in Seattle, New York, London, Paris, Amsterdam, Sydney, Melbourne, Auckland, Singapore, Seoul, Tokyo, Beijing, Toronto, Chicago, San Diego, Milwaukee and Edinburgh. For more information about how Russell helps to improve financial security for people, visit or follow us @Russell_News.


The NAPF is the leading voice of workplace pensions in the UK. We speak for 1,300 pension schemes with some 16 million members and assets of around £900 billion. NAPF members also include over 400 businesses providing essential services to the pensions sector.

Other recent made simple guides include topics such as Benchmarks and Indices, ETFs, Fiduciary management and Emerging Markets.


Lucy Grubb, Head of Media and PR, NAPF, 020 7601 1726 or 07713 073023, [email protected]

Eleanor Bennett, Press Officer, NAPF, 020 7601 1718 or 07825 171 446, [email protected]

Emma Collins, Communications Manager EMEA, Russell Investments, 020-7024-6709, [email protected]


Navigate to ...