Final Release: Best Execution Guidelines for Fixed-Income
The Asset Management Group of SIFMA is pleased to announce the release of its much-anticipated "Best Execution Guidelines for Fixed-Income Securities." The development and promulgation of these guidelines fill the current void of practical guidance on fixed-income best execution for asset managers. The guidelines are included in a White Paper (click below) and articulate general principles and provide context and guidance so that asset managers can establish processes and procedures for best execution on an overall basis.
Click here to view SIFMA's Best Execution Guidelines for Fixed-Income Securities
The Asset Management Group of SIFMA developed the content of the recommended guidelines. David L. Murphy, CFA, President, Strategic Advisers, Inc., Fidelity Investments, and Richard M. Weil, Chief Operating Officer and Managing Director of PIMCO, serve as 2008 Chair and Vice Chair, respectively, of the Steering Committee of the Asset Management Group. Willkie Farr & Gallagher served as outside counsel in connection with this initiative. Professionals at asset management member firms of SIFMA volunteered to review the proposed guidelines and assess their potential effectiveness. Staff and outside counsel also interviewed portfolio managers, traders, and legal and compliance professionals to further assess the potential operation of the guidelines.
Asset Management 3-5 years; Where will we be?
Attend an Event on January 15 to Find Out!
Asset management is in a constantly evolving environment. For example:
- Conventional separation between asset manager and hedge fund markets are breaking down
- Investment managers are extending their array of available offerings
- Service Providers need to adjust offerings to capture, coordinate and model "core trade bundles"
These are just three of several topics that will be addressed at a Lunch & Learn presentation hosted by The Asset Managers Forum on January 15, 2008. This 1/15/08 event focuses on emerging trends in the asset management landscape over the next 3 to 5 years relating to the changing nature of emerging investment portfolios and managing service delivery.
In the first part of the event, Detica, a consultancy firm will offer a presentation, "Viewpoint 2010: Servicing the Emerging Investment Portfolio." The presentation will be a thought-provoking insight on the challenges facing the asset manager's service delivery operations and support staffs. Immediately following the presentation, Joseph Sack of SIFMA's Asset Management Group will moderate a panel to discuss the implications of the themes described above. Omar Medina of Goldman Sachs Asset Management and Neil Burke of Morgan Stanley will serve as the industry panelists.
Details:
What: Lunch and Learn On Industry Trends in Asset Management
When: Tuesday, January 15, 2008 from 11:30 a.m. to 1:30 p.m. ET
Where: SIFMA Conference Center, 360 Madison Avenue, 17th Floor, NYC
Seats are limited so sign up now to ensure a spot at this one-of-a-kind event.
Remarks by Treasury Secretary Paulson on Housing and Capital Markets
On January 7, 2008, U.S. Treasury Secretary Henry Paulson spoke before the New York Society of Securities Analysts on the housing and capital markets. In his remarks, Secretary Paulson described a three-point plan that the Treasury Department and the HOPE NOW alliance is implementing to avoid preventable foreclosures. The plan involved developing new mortgage products that will enable people to stay in their homes and developing a process that manages the volume of mortgage rate resets.
Secretary Paulson also spoke on the capital markets and the U.S. economy. The Secretary discussed the state of the equity, treasury, high-grade and high-yield markets and reaffirmed his confidence in the U.S. markets. He further went on to address SIVs and the asset-backed commercial paper market. Secretary Paulson stated that while the housing downturn and credit disruption weigh on the economy, the U.S. experienced nearly a 5% GDP growth in the third quarter of last year.
Click here to read Remarks by Treasury Secretary Paulson on Housing and Capital Markets
Important Publications:
SIFMA Update
Washington Weekly
Weekly Report of the American Securitization Forum
SIFMA SmartBrief (past five issues)