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ITEM PF16 - ANNEX 2PENSION FUND COMMITTEE – 25 NOVEMBER 2005REVIEW OF THE GLOBAL CUSTODIAN
Oxfordshire County Council Pension Fund Global Custodian Survey How ABN AMRO Mellon compared with Bank of New York, HSBC, Northern Trust and State Street in the following three surveys:- Survey Completed by Fund Managers ABN AMRO Mellon finished first in all 11 categories. Categories included: relationship management, client service, cash management, client service, foreign exchange, proxy voting, corporate actions, income collection, tax reclaims, transaction cost management, performance measurement, compliance and technology. Survey Completed by Institutional Investors ABN AMRO Mellon finished first in 12 out of 13 categories, which were reporting, cash management, client service, foreign exchange, proxy voting, corporate actions, income collection, tax reclaims, transaction cost management, performance measurement, compliance and technology. The only category in which ABN AMRO did not finish top in their peer group was in Transition Management, where they finished second to the Bank of New York. Securities Lending Survey There
were five categories. ABN AMRO Mellon finished first in three categories,
which were reporting, compliance and operational capabilities. They finished
second in the other two: risk management and earnings performance, where
the Bank of New York came top. |