Interim portfolio management makes prompt manager changes possible while buying time for new manager selection. There are many different reasons why the investment case for a particular money manager can change: staff departures, significant organizational shifts, whiffs of impropriety, or simply because of a change in the investor's investment policy. Whatever the reason, plan sponsors need to be prepared to change their manager lineup on short notice.

This paper discusses the benefits of having interim portfolio management for fixed income strategies that may help maintain benchmark exposure and minimize transaction costs and risks.

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