Overview
Transition management (“TM”) is the process of managing movements of portfolio assets that arise from changes in
investment manager, asset allocation, investment style, or large fund flows. This process is used, for example, when
replacing an investment manager for performance reasons or rebalancing for asset allocation reasons.
Transition management
clients are primarily defined benefit and defined contribution plan sponsors and, to a lesser
extent, sovereign wealth funds, endowments, trusts, and high net-worth individual investors. In addition, Financial
Intermediaries such as investment management firms, mutual fund and insurance companies use TM providers to
facilitate portfolio changes.