STRUCTURAL ALPHA

INVESTMENT PLATFORM

Setting up the optimal investment structure is a complicated operation. Careful planning for legislative and taxational matters and diligent selection of service providers can help improve net returns and contribute to reducing the likelihood of subsequent re-structuring. Tang Financial has extensive experience with designing and implementing multi-asset investment platforms and structures in different European jurisdictions for both asset managers and asset owners.

SYSTEM ARCHITECTURE

Systems are an expensive but very important element of the investment infrastructure. Tang Financial assist with the design, selection and implementation of changes to system architecture and ensuring the most optimal use of the different systems deployed to manage the order flow.

TREASURY MANAGEMENT

The skillsets required to effectively handle disciplines such as collateral, cash, liquidity, and FX management are a combination of operational and investment expertise. For that reason, more and more asset managers and asset owners are setting up a centralise treasury hub with a sole focus on optimising these areas. Tang Financial has deep knowledge and practical experience with setting up Treasury desks

TRADING AND EXECUTION

The direct and indirect costs associated with order implementation can be a significant drag on return. Tang Financial helps clients with improving implementation costs including negotiation of rate cards with market counterparties

TRANSITION MANAGEMENT

Careful planning of a portfolio transition or liquidation can materially lower the cost associated with implementation of these changes to the asset mix. Tang Financial assist clients with this process and ensures a seamless and cost-efficient transfer through in-specie or sale transactions

CASES

Investment Platform

Danish Insurance Company

Tang Financial was appointed to lead the implementation of a new multi-asset AIFMD compliant investment platform for a large Danish insurance company. The assignment included selection of Management Company, Administration, and Depositary services to the platform, as well as identifying the relevant type of investment vehicles.

Investment Platform

Global Insurance Company

Tang Financial was appointed to advise on setting up a new AIFMD compliant investment platform for a large global insurance company. The assignment included selection of Administration, Depositary, and Prime Brokerage services to the platform and drafting policies and working procedures for key functional areas.

Investment Platform

Global Insurance Company

Investment Platform

Danish Pension Fund

Tang Financial was appointed to advise on the consolidation of a multi-jurisdictional investment platform for a large Danish pension fund. The assignment included mapping and historical cost analysis of Administration, Depositary, Legal, Clearing, and Prime Brokerage services.

System Architecture

Danish Bank

Tang Financial was appointed to advise a Danish bank on choosing its next Order Management System (OMS). This included working closely with the execution desk to establish the operational requirements for the OMS and mapping the order implementation process prior to completing a vendor selection while considering the existing software landscape and system integrations

System Architecture

Dutch Pension Fund

Tang Financial was appointed to advise on the implementation of a multi-asset system infrastructure to manage illiquid alternative investments for a large Dutch pension fund. The work entailed consolidation and optimisation of the existing system landscape in order to ensure seamless future system integration.

Treasury Management

Swedish Pension Fund

Tang Financial was appointed by a large Swedish pension fund to investigate and analyse its current treasury set up and provide recommendations for a potential future setup encompassing all treasury areas as well as portfolio financing and securities lending/borrowing.

Treasury Management

Danish Industrial Company

Tang Financial was appointed to select money markets instruments for a new cash management programme for a large Danish industrial company. This included a complete mapping of all available money markets and short-term debt instruments.

Trading and Execution

Swedish Pension Fund

Tang Financial was appointed by a large Swedish pension fund to investigate and analyse its current setup for order implementation and provide recommendations for a potential future setup with increased use of Straight-Through Processing (STP).

Trading and Execution

Swedish Pension Fund

Tang Financial was appointed to advise on the selection of a new prime broker. Tang Financial was acting as an external advisor and led rate card negotiations on behalf of the client.