W O RL D W I D E S E C U R I T I E S S E R V I C E S

Transition Management Services

Customised and risk-controlled solutions for institutional investors restructuring their portfolios
J.P. Morgan is committed to helping institutional investors restructure assets to achieve their desired
portfolio exposure in a confidential, timely, risk-controlled and cost-effective manner. Restructuring
Highlights
portfolios introduces risk. J.P. Morgan designs a unique solution and implementation strategy for each • More than 25 years experience
transition, leveraging all forms of liquidity available to provide the best execution possible whilst assisting institutional investors
minimising risk and cost. Our clients receive experienced transition management expertise for strategy with restructuring their portfolios
development, planning, optimised trading, execution, operations and post-trade analysis. • Analytics and execution
capabilities of a premier
investment bank combined with
KEY FEATURES AND BENEFITS the operational and
administrative expertise of a
Benefit Features
leading global custodian
Efficiency Execution • Equities: No need to outsource trading activity to a 3rd party. We retain • Best execution through efficient,
control by using our own broker/dealer market access, both on an consistent and competitive
agency and principal basis (where clients demand the use of capital) execution in equities, fixed
income, FX and derivatives in
• Fixed income: highly efficient and confidential sourcing of liquidity combination with seamless access
through electronic and manual multiple-dealer access, delivering to internal and third-party
transparent best execution as well as efficient settlement processing liquidity sources
• For clients not ready to deploy
Mitigate Risk • Maintain portfolio exposure, reduce risks and costs, and preserve assets to new fund management
asset value through detailed planning, accurate execution and the mandates, passive beta exposure
sourcing of efficient liquidity, supporting full multiple asset class achieved through baskets of
portfolio restructuring as well as cash investments and liquidations securities, ETFs and derivatives

Minimize Cost • Consultative and centralised project management approach

throughout the transition:

− Strategy development: Determine client objectives, conduct

portfolio analysis, calculate expected costs and devise preliminary
project plan and trade execution strategy
− Planning: Coordinate all involved parties to complete
documentation, identify in-kind transfers and finalise optimal
implementation strategy
− Execution: Minimize cost through complete management of in-
kind transfers, internal and external crosses,
open market trade execution, and currency transactions with full
coordination of all cash flows and settlement
− Performance Analysis: Deliver clear measurement of transition
implementation shortfall and actual cost outcome compared with
pretrade estimates
• Continuous and dedicated coverage throughout the restructure To learn more, speak to your representative or
by transition manager and project manager visit jpmorgan.com/transitionmanagement.

• Dual verification of all key actions by independent team members

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This brochure contains a summary of the subject matter (and is subject to change without notice) and is provided solely for general information purposes. J.P. Morgan does not make any representation or warranty,
whether expressed or implied, in relation to the completeness, accuracy, currency or reliability of the information contained in this brochure nor as to the legal, regulatory, financial or tax implications of the matters
referred herein. This brochure does not constitute a solicitation in any jurisdiction in which such a solicitation is unlawful or to any person to whom it is unlawful. Issued and approved for distribution in the United
Kingdom and the European Economic Area by J.P. Morgan Europe Limited. In the United Kingdom, JPMorgan Chase Bank, N.A., London branch and J.P. Morgan Europe Limited are authorized and regulated by the
Financial Services Authority.