Case Studies

A fund manager who used our benchmarking service found that interest rates on their currency deposits were not market leading. The fund manager decided not to take the deposits away from the custodian, but agreed instead to increase the size of the deposit in return for an increase in the interest rate to market level. This was a "win/win" solution for the fund manager and custodian. The client then used our benchmarking service to monitor ongoing performance versus the market place.

The Trustees of a pension fund were concerned that the service levels provided by their custodian had slipped. It had been five years since their last custodian selection exercise, so they asked Amaces and a number of other consultancies how they could help them with a custodian selection assignment. We convinced the Trustees to use our "Health Check" to compare their custodian experience to those of their peers. The results showed that their service was good, in all but one area, which was successfully remedied. The "Health Check" meant they avoided a costly custodian selection exercise and the problems often associated with a change in custodian. The Trustees now use our benchmarking service to monitor performance on an ongoing basis.

A fund manager who had outsourced many functions to a custodian was concerned that service levels and performance were poor compared to the market place. However, they had no way to verify this to either senior management or their custodian. They asked Amaces to compare their service experience to their peers. Problem areas were identified, which were caused by both the custodian and the fund manager. They were then able to focus on these areas and take action to correct them.