J.P. Morgan has completed an asset restructuring for the 2.7 billion BAA Pension Scheme. It has provided transition management services to the schemes sterling credit and gilt fixed income portfolio.
The service covered all phases of the transition from strategy development through to execution and performance review.
J.P. Morgan transition management group, part of the newly formed Corporate & Investment Bank (CIB) has regularly transitioned the schemes assets and this latest mandate is on of the most important to date.
Alastair Knowles, Secretary to the Trustees, BAA Pension Scheme said: We have received a consistently high level of service from J.P. Morgan over many years and are delighted with this partnership which was flawlessly executed and well within the schemes cost and timeframe expectations.
Michael Gardner, global head of Transition Management, J.P. Morgan said: We are very pleased that BAA Pension Scheme selected us to manage their restructure of investments, allowing us to offer our firm-wide capabilities and best-in-class solutions. The search for additional yield has resulted in growth in fixed income transitions. As such, J.P. Morgan has made a number of strategic hires in the UK and Australia to meet this demand.